EUR/JPY Technical Analysis: The 55-day SMA at 122.55 still caps the upside

EUR/JPY resumed the downside on the back of renewed JPY-buying following the FOMC minutes and Powell’s first testimony.
Ideally, the cross needs to surpass the 55-day SMA in the mid-122.00s to mitigate downside pressure and re-shift its focus to the 123.00 area and beyond. Further up emerges July top at 123.35.
Further out, the negative prospect on the cross remains unchanged below the short-term resistance line, today at 122.84.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	121.81
Today Daily Change	45
Today Daily Change %	-0.19
Today daily open	122.04

Trends
Daily SMA20	121.97
Daily SMA50	122.97
Daily SMA100	124.25
Daily SMA200	126

Levels
Previous Daily High	122.34
Previous Daily Low	121.93
Previous Weekly High	123.36
Previous Weekly Low	121.3
Previous Monthly High	123.18
Previous Monthly Low	120.78
Daily Fibonacci 38.2%	122.18
Daily Fibonacci 61.8%	122.08
Daily Pivot Point S1	121.87
Daily Pivot Point S2	121.7
Daily Pivot Point S3	121.46
Daily Pivot Point R1	122.27
Daily Pivot Point R2	122.51
Daily Pivot Point R3	122.68

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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