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EUR/JPY Price Analysis: Consolidation for more time?

  • EUR/JPY adds to Monday’s pullback, at the 136.00 barrier zone.
  • Upside attempts remain capped by the August high at 138.40.

EUR/JPY continues the bearish start of the week, although it manages to bounce from the lows around 135.70.

If the cross manages to break above the ongoing consolidation, the August high at 138.39 (Aug 10) is expected to be back in the spotlight. Above the latter, EUR/JPY could attempt a move towards the 55-day simple moving average (SMA) today at 139.26.

As long as it remains above the 200-day SMA at 134.12, the outlook for the pair should remain constructive.

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today 136.4
Today’s Daily Change -0.27
Today’s Daily Change % -0.20
Today’s Daily Opening 136.67
Trends
20 Daily SMA 136.91
50 Daily SMA 139.14
100 Daily SMA 138.21
200 Daily SMA 134.12
levels
Previous Daily High 137.95
Previous Daily Minimum 136.4
Previous Maximum Weekly 137.96
Previous Weekly Minimum 134.95
Monthly Prior Maximum 142.43
Previous Monthly Minimum 135.55
Daily Fibonacci 38.2% 136.99
Daily Fibonacci 61.8% 137.36
Daily Pivot Point S1 136.06
Daily Pivot Point S2 135.46
Daily Pivot Point S3 134.52
Daily Pivot Point R1 137.61
Daily Pivot Point R2 138.56
Daily Pivot Point R3 139.16

Source: Fx Street

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