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16 Nov 2018
EUR/JPY Technical Analysis: The cross resumes the downside and aims for the mid-127.00s
- After three consecutive daily advances, EUR/JPY has now moved back to the negative territory and is navigating the low 128.00s, facing the likelihood of a deeper retracement.
- Immediate target to the downside emerges at last week’s lows in the mid-127.00s ahead of August’s trough in the 124.90/85 band.
- On the other hand, occasional bullish attempts meet initial hurdle at the 129.00 neighbourhood, coincident with recent tops and the base of the daily cloud.
- So far, the stance on the cross remains offered while below the short-term resistance line, today at 129.44.
EUR/JPY daily chart
EUR/JPY
Overview:
Last Price: 128.4
Daily change: -30 pips
Daily change: -0.233%
Daily Open: 128.7
Trends:
Daily SMA20: 128.65
Daily SMA50: 129.85
Daily SMA100: 129.54
Daily SMA200: 130.08
Levels:
Daily High: 129.07
Daily Low: 127.76
Weekly High: 130.16
Weekly Low: 128.6
Monthly High: 132.49
Monthly Low: 126.63
Daily Fibonacci 38.2%: 128.57
Daily Fibonacci 61.8%: 128.27
Daily Pivot Point S1: 127.95
Daily Pivot Point S2: 127.2
Daily Pivot Point S3: 126.64
Daily Pivot Point R1: 129.26
Daily Pivot Point R2: 129.82
Daily Pivot Point R3: 130.57