EUR/JPY Technical Analysis: Downside pressure expected to persist below 125.00
- The cross has come under renewed selling pressure today, dropping to sub-124.00 levels and flirting with weekly lows recorded on Tuesday at 123.40.
- The bearish stance remains well in place as long as EUR/JPY trades below the 125.00 neighbourhood, where are located yearly highs and August 2018 lows. That said, a visit of the mid-122.00s (low January 4) still remains on the cards while below this key resistance area.
- Furthermore, downside pressure should be alleviated on a convincing break above the 125.00 region.
EUR/JPY daily chart
EUR/JPY
Overview:
Today Last Price: 123.88
Today Daily change: -15 pips
Today Daily change %: -0.121%
Today Daily Open: 124.03
Trends:
Previous Daily SMA20: 125.3
Previous Daily SMA50: 127.28
Previous Daily SMA100: 128.61
Previous Daily SMA200: 129.12
Levels:
Previous Daily High: 124.88
Previous Daily Low: 123.39
Previous Weekly High: 125.1
Previous Weekly Low: 123.4
Previous Monthly High: 129.3
Previous Monthly Low: 125.36
Previous Daily Fibonacci 38.2%: 123.96
Previous Daily Fibonacci 61.8%: 124.31
Previous Daily Pivot Point S1: 123.32
Previous Daily Pivot Point S2: 122.62
Previous Daily Pivot Point S3: 121.84
Previous Daily Pivot Point R1: 124.8
Previous Daily Pivot Point R2: 125.58
Previous Daily Pivot Point R3: 126.28