Home EUR/JPY Technical Analysis: The cross resumes the downside and aims for the mid-127.00s
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EUR/JPY Technical Analysis: The cross resumes the downside and aims for the mid-127.00s

  • After three consecutive daily advances, EUR/JPY has now moved back to the negative territory and is navigating the low 128.00s, facing the likelihood of a deeper retracement.
  • Immediate target to the downside emerges at last week’s lows in the mid-127.00s ahead of August’s trough in the 124.90/85 band.
  • On the other hand, occasional bullish attempts meet initial hurdle at the 129.00 neighbourhood, coincident with recent tops and the base of the daily cloud.
  • So far, the stance on the cross remains offered while below the short-term resistance line, today at 129.44.

EUR/JPY daily chart

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EUR/JPY

Overview:
       Last Price:  128.4
       Daily change:  -30  pips
       Daily change:  -0.233%
       Daily Open:  128.7
Trends:
       Daily SMA20:  128.65
       Daily SMA50:  129.85
       Daily SMA100:  129.54
       Daily SMA200:  130.08
Levels:
       Daily High:  129.07
       Daily Low:  127.76
       Weekly High:  130.16
       Weekly Low:  128.6
       Monthly High:  132.49
       Monthly Low:  126.63
       Daily Fibonacci 38.2%:  128.57
       Daily Fibonacci 61.8%:  128.27
       Daily Pivot Point S1:  127.95
       Daily Pivot Point S2:  127.2
       Daily Pivot Point S3:  126.64
       Daily Pivot Point R1:  129.26
       Daily Pivot Point R2:  129.82
       Daily Pivot Point R3:  130.57

 

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