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  • The prevailing selling mood continues to hurt the Japanese Yen and is therefore propelling the recovery in EUR/JPY from last week’s lows in the 126.65/60 band.
  • The ongoing recovery should meet initial hurdle at the 10-day SMA at 128.54 and could extend to the 129.00 neighbourhood and above, where is located the 21-day SMA and 100-day SMA, at 129.46 and 129.47, respectively.
  • In case the cross resumes the down trend, last week’s low at 126.61 could pave the way for a potential visit to August’s low at 124.90, regarded as the last defense of a probable test of YTD low at 124.61 seen in late-May.

EUR/JPY daily chart

 

 

 

 

 

 

 

 

 

 

 

 

 

EUR/JPY

Overview:
       Last Price:  128.19
       Daily change:  39  pips
       Daily change:  0.305%
       Daily Open:  127.8
Trends:
       Daily SMA20:  129.51
       Daily SMA50:  129.95
       Daily SMA100:  129.47
       Daily SMA200:  130.52
Levels:
       Daily High:  128.26
       Daily Low:  127.24
       Weekly High:  130.22
       Weekly Low:  126.63
       Monthly High:  133.15
       Monthly Low:  127.87
       Daily Fibonacci 38.2%:  127.87
       Daily Fibonacci 61.8%:  127.63
       Daily Pivot Point S1:  127.28
       Daily Pivot Point S2:  126.76
       Daily Pivot Point S3:  126.27
       Daily Pivot Point R1:  128.29
       Daily Pivot Point R2:  128.78
       Daily Pivot Point R3:  129.3