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7 Feb 2019

EUR/JPY Technical Analysis: A breach of the 21-day SMA at 124.72 could allow extra pullbacks

  • EUR/JPY keeps extending the rejection from recent tops in the 126.00 neighbourhood and is now flirting with the 21-day SMA in the 124.70 region.
  • A deeper correction is expected to meet the next support at last Friday’s lows at 124.36 ahead of late January lows in the 123.80/75 band.
  • Any bullish attempts should now regain the critical 125.00 area, home of recent failed bullish attempts and reinforced by the 10-day SMA, today at 125.01. While the short-term resistance line at 126.57 caps, the bearish view is expected to prevail.

EUR/JPY daily chart

EUR/JPY

Overview:
    Today Last Price: 124.87
    Today Daily change: 38 pips
    Today Daily change %: -0.10%
    Today Daily Open: 124.99
Trends:
    Daily SMA20: 124.74
    Daily SMA50: 126.04
    Daily SMA100: 127.82
    Daily SMA200: 128.51
Levels:
    Previous Daily High: 125.5
    Previous Daily Low: 124.81
    Previous Weekly High: 125.74
    Previous Weekly Low: 124.36
    Previous Monthly High: 127.07
    Previous Monthly Low: 118.84
    Daily Fibonacci 38.2%: 125.08
    Daily Fibonacci 61.8%: 125.24
    Daily Pivot Point S1: 124.7
    Daily Pivot Point S2: 124.41
    Daily Pivot Point S3: 124.01
    Daily Pivot Point R1: 125.4
    Daily Pivot Point R2: 125.8
    Daily Pivot Point R3: 126.09

 

Feb 7, 2019

EUR/GBP: Upside correction remains in force – Commerzbank

Karen Jones, analyst at Commerzbank, suggests that the EUR/GBP’s correction higher appears to be struggling around the 38.2% retracement however it re
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