22 Jan 2019
EUR/JPY Technical Analysis: Rangebound trade expected to persist. Further decline not ruled out
- EUR/JPY is extending its consolidative theme so far this year following the ‘flash crash’ on January 3 to sub-119.00 levels.
- The cross, however, faces a formidable resistance in the 125.00 area, reinforced by August 2018 low (124.91) and the 21-day SMA at 124.80.
- Below this hurdle the cross is expected to extend the sideline theme although the likelihood of a leg lower remains well on the cards with immediate target at 123.31 (low January 15).
EUR/JPY daily chart
EUR/JPY
Overview:
Today Last Price: 124.3
Today Daily change: -0.40 pips
Today Daily change %: -0.32%
Today Daily Open: 124.7
Trends:
Daily SMA20: 124.8
Daily SMA50: 126.92
Daily SMA100: 128.4
Daily SMA200: 128.97
Levels:
Previous Daily High: 124.83
Previous Daily Low: 124.51
Previous Weekly High: 124.98
Previous Weekly Low: 123.39
Previous Monthly High: 129.3
Previous Monthly Low: 125.36
Daily Fibonacci 38.2%: 124.71
Daily Fibonacci 61.8%: 124.63
Daily Pivot Point S1: 124.53
Daily Pivot Point S2: 124.36
Daily Pivot Point S3: 124.2
Daily Pivot Point R1: 124.85
Daily Pivot Point R2: 125.01
Daily Pivot Point R3: 125.18