EUR/JPY Price Analysis: Recovery initially heading towards 138.40

  • EUR/JPY is trading with modest gains after two consecutive daily declines.
  • If the rebound picks up pace, the cross could revisit 138.40.

EUR/JPY leaves behind two consecutive daily declines and advances above 136.00 on Tuesday.

Should the recovery become more serious, then the cross should meet the next barrier at the 100-day SMA at 138.08 before the more relevant August high at 138.39 (Aug 10).

As long as it is above the 200 SMA today at 133.94, the outlook for the cross should remain constructive.

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today 136.17
Today’s Daily Change 0.68
Today’s Daily Change % 0.50
Today’s Daily Opening 135.49
Trends
20 Daily SMA 137.71
50 Daily SMA 139.63
100 Daily SMA 138.12
200 Daily SMA 133.95
levels
Previous Daily High 137.08
Previous Daily Minimum 135.28
Previous Maximum Weekly 138.4
Previous Weekly Minimum 136.3
Monthly Prior Maximum 142.43
Previous Monthly Minimum 135.55
Daily Fibonacci 38.2% 135.97
Daily Fibonacci 61.8% 136.39
Daily Pivot Point S1 134.82
Daily Pivot Point S2 134.15
Daily Pivot Point S3 133.02
Daily Pivot Point R1 136.62
Daily Pivot Point R2 137.75
Daily Pivot Point R3 138.42

Source: Fx Street

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