EUR/JPY Price Analysis: Support emerges in the 117.00 region
by Pablo Piovano- EUR/JPY’s decline appears to have met decent support in the 117.00 neighbourhood so far.
- The resumption of the upside bias should target the 118.50 region in the short-term horizon.
The downside momentum in EUR/JPY lost momentum in the 117.00 area so far, after being rejected from monthly tops in the mid-118.00s.
If sellers remain in control, the corrective move could morph into a more important drop to, initially, the April’s low at 115.44.
In case the buying interest resurface, then the 118.50 area should return to the investors’ radar.
EUR/JPY daily chart
EUR/JPY
| Overview | |
|---|---|
| Today last price | 117.19 |
| Today Daily Change | 47 |
| Today Daily Change % | -0.12 |
| Today daily open | 117.33 |
| Trends | |
|---|---|
| Daily SMA20 | 116.41 |
| Daily SMA50 | 117.45 |
| Daily SMA100 | 118.89 |
| Daily SMA200 | 119.3 |
| Levels | |
|---|---|
| Previous Daily High | 117.98 |
| Previous Daily Low | 117 |
| Previous Weekly High | 118.52 |
| Previous Weekly Low | 115.79 |
| Previous Monthly High | 119.04 |
| Previous Monthly Low | 115.45 |
| Daily Fibonacci 38.2% | 117.37 |
| Daily Fibonacci 61.8% | 117.6 |
| Daily Pivot Point S1 | 116.89 |
| Daily Pivot Point S2 | 116.45 |
| Daily Pivot Point S3 | 115.91 |
| Daily Pivot Point R1 | 117.87 |
| Daily Pivot Point R2 | 118.42 |
| Daily Pivot Point R3 | 118.86 |