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EUR/JPY Technical Analysis: Stages a goodish rebound from over 1-month-old trading range support

   •  The cross stalled the post-ECB rejection slide from 100-day SMA and once again managed to find decent support near the lower end of over one-month-old trading range.

   •  A breakthrough 50-hour SMA was seen as a key trigger for intraday bullish traders and behind the pair's latest leg of a sudden pick up during the early European trading session.

   •  Technical indicators on the 1-hourly chart have been gaining positive traction and remained supportive of the positive momentum, helping snap three days of losing streak.

   •  However, oscillators on 4-hourly/daily charts remain in the bearish territory and hence, the current bounce runs the risk of fizzling out amid global growth concerns.

EUR/JPY daily chart


    Today Last Price: 128.12
    Today Daily change: 21 pips
    Today Daily change %: 0.164%
    Today Daily Open: 127.91
    Previous Daily SMA20: 128.53
    Previous Daily SMA50: 128.72
    Previous Daily SMA100: 129.15
    Previous Daily SMA200: 129.68
    Previous Daily High: 128.25
    Previous Daily Low: 127.64
    Previous Weekly High: 129.27
    Previous Weekly Low: 127.98
    Previous Monthly High: 130.16
    Previous Monthly Low: 127.5
    Previous Daily Fibonacci 38.2%: 127.87
    Previous Daily Fibonacci 61.8%: 128.02
    Previous Daily Pivot Point S1: 127.62
    Previous Daily Pivot Point S2: 127.32
    Previous Daily Pivot Point S3: 127.01
    Previous Daily Pivot Point R1: 128.23
    Previous Daily Pivot Point R2: 128.54
    Previous Daily Pivot Point R3: 128.84


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