EUR/JPY Technical Analysis: The cross is eroding the key resistance line at 125.86

EUR/JPY is up for the third consecutive session today, moving beyond the key barrier at 125.00 the figure and challenging the critical resistance line, today at 125.86.
A surpass of this area will alleviate downside pressure and should allow the cross to re-target the 126.00 neighbourhood, where is located the 2019 peak.
On the downside, solid support is expected to emerge in the 124.90/95 band, where coincide the 21- and 10-day SMA.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Today Last Price: 125.79
    Today Daily change: 59 pips
    Today Daily change %: 0.26%
    Today Daily Open: 125.46
Trends:
    Daily SMA20: 124.95
    Daily SMA50: 125.38
    Daily SMA100: 127.17
    Daily SMA200: 128.26
Levels:
    Previous Daily High: 125.54
    Previous Daily Low: 124.76
    Previous Weekly High: 125.54
    Previous Weekly Low: 124.19
    Previous Monthly High: 127.07
    Previous Monthly Low: 118.84
    Daily Fibonacci 38.2%: 125.24
    Daily Fibonacci 61.8%: 125.06
    Daily Pivot Point S1: 124.97
    Daily Pivot Point S2: 124.47
    Daily Pivot Point S3: 124.19
    Daily Pivot Point R1: 125.75
    Daily Pivot Point R2: 126.04
    Daily Pivot Point R3: 126.53

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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