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EUR/JPY Price Analysis: Gains remain capped at 138.40 so far

  • EUR/JPY looks offered after two consecutive daily advances.
  • Next up is the August high at 138.40.

The EUR/JPY corrects lower after hitting weekly resistance just below 138.00 on Aug 17.

Should the recovery be more serious, the cross should meet the next barrier at the 100-Day SMA at 138.13 before the more relevant August high at 138.39 (Aug 10). Rises are expected to gain further momentum once this latest barrier is cleared.

As long as it is above the 200-day SMA, today at 134.01, the outlook for the pair should remain constructive.

EUR/JPY daily chart

Technical levels


Last Price Today 137.09
Today’s Daily Change -0.40
Today’s Daily Change % -0.29
Today’s Daily Opening 137.49
20 Daily SMA 137.3
50 Daily SMA 139.39
100 Daily SMA 138.14
200 Daily SMA 134.02
Previous Daily High 137.88
Previous Daily Minimum 136.26
Previous Maximum Weekly 138.4
Previous Weekly Minimum 136.3
Monthly Prior Maximum 142.43
Previous Monthly Minimum 135.55
Daily Fibonacci 38.2% 137.26
Daily Fibonacci 61.8% 136.88
Daily Pivot Point S1 136.54
Daily Pivot Point S2 135.59
Daily Pivot Point S3 134.92
Daily Pivot Point R1 138.16
Daily Pivot Point R2 138.83
Daily Pivot Point R3 139.78

Source: Fx Street

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