- EUR/JPY remains on the defensive below the 129.00 mark.
- Further decline could see the 127.80 area retested in the near-term.
EUR/JPY adds to Tuesday’s losses and accelerates the downside below the 129.00 support on Wednesday.
The upside momentum now looks dented and a deeper pullback in the cross could re-visit the 127.75/80 band, where coincide the 50-day SMA and the short-term support line (off the November’s low).
A break below the latter should alleviate the upside pressure and allow for the continuation of the downtrend, at least in the near-term view.
In the meantime, while above the 200-day SMA at 125.04 the broader outlook for the cross should remain constructive.
|Today last price||128.58|
|Today Daily Change||46|
|Today Daily Change %||-0.07|
|Today daily open||128.67|
|Previous Daily High||129.92|
|Previous Daily Low||128.6|
|Previous Weekly High||130.67|
|Previous Weekly Low||129.32|
|Previous Monthly High||129.98|
|Previous Monthly Low||126.1|
|Daily Fibonacci 38.2%||129.1|
|Daily Fibonacci 61.8%||129.42|
|Daily Pivot Point S1||128.21|
|Daily Pivot Point S2||127.74|
|Daily Pivot Point S3||126.89|
|Daily Pivot Point R1||129.53|
|Daily Pivot Point R2||130.38|
|Daily Pivot Point R3||130.85|
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