- EUR/JPY accelerates losses and approaches 128.00.
- There is room for further pullback in the short term.
The EUR/JPY adds to Monday’s drop and approaches the 128.00 area on Tuesday.
More EUR/JPY losses are on the way in light of recent price action. That said, immediately to the downside comes the 2022 low at 127.91 (Feb 24) before the Dec 2021 low at 127.50 (Dec 20).
Further declines are likely for the cross if it trades below the 2-month line near 129.00. In the longer term, the outlook for the cross is seen as negative as it sits below the 200-day SMA today at 130.30.
EUR/JPY daily chart
Additional technical levels
EUR/JPY
| Panorama | |
|---|---|
| Last Price Today | 128.14 |
| Today’s Daily Change | -0.73 |
| Today’s Daily Change % | -0.57 |
| Today’s Daily Opening | 128.87 |
| Trends | |
|---|---|
| 20 Daily SMA | 130.69 |
| 50 Daily SMA | 130.25 |
| 100 Daily SMA | 130.2 |
| 200 Daily SMA | 130.37 |
| levels | |
|---|---|
| Previous Daily High | 129.78 |
| Previous Daily Minimum | 128.7 |
| Previous Maximum Weekly | 130.91 |
| Previous Weekly Minimum | 127.92 |
| Monthly Prior Maximum | 133.15 |
| Previous Monthly Minimum | 127.92 |
| Daily Fibonacci 38.2% | 129.11 |
| Daily Fibonacci 61.8% | 129.37 |
| Daily Pivot Point S1 | 128.45 |
| Daily Pivot Point S2 | 128.03 |
| Daily Pivot Point S3 | 127.37 |
| Daily Pivot Point R1 | 129.54 |
| Daily Pivot Point R2 | 130.2 |
| Daily Pivot Point R3 | 130.62 |
Source: Fx Street
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