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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

 

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