EUR/JPY Price Analysis: Solid contention remains around 131.50


  • EUR/JPY leaves behind Monday’s gains and retests 131.50.
  • Further losses await on a breach of the mid-131.00s.

Sellers returned to the market and dragged EUR/JPY back to the negative territory on turnaround Tuesday.

The cross fades Monday’s constructive price action and refocuses instead once again on the 131.50 area, which still emerges as quite a strong support area. This zone is also reinforced by a Fibo level (of the October’s rally) at 131.51. The loss of this area is expected to meet the next level at another Fibo at 130.97.

In the broader scenario, while above the 200-day SMA at 130.26, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 131.87
Today Daily Change 92
Today Daily Change % -0.34
Today daily open 132.32
 
Trends
Daily SMA20 131.56
Daily SMA50 130.35
Daily SMA100 130.36
Daily SMA200 130.28
 
Levels
Previous Daily High 132.45
Previous Daily Low 131.72
Previous Weekly High 132.73
Previous Weekly Low 131.56
Previous Monthly High 133.48
Previous Monthly Low 128.34
Daily Fibonacci 38.2% 132.17
Daily Fibonacci 61.8% 132
Daily Pivot Point S1 131.88
Daily Pivot Point S2 131.43
Daily Pivot Point S3 131.15
Daily Pivot Point R1 132.6
Daily Pivot Point R2 132.89
Daily Pivot Point R3 133.33

 

 

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