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EUR/JPY Technical Analysis: Rejection from 125.00 and above prompts potential pullbacks

  • EUR/JPY managed to test levels above the critical barrier at 125.00 the figure, although the bull run lacked of follow through.
  • Another rejection from this key resistance area now opens the door a probable correction lower to, initially, last week’s lows in the 123.80 region.
  • A deeper pullback should see mid-January lows in the 123.40 region re-tested.

EUR/JPY daily chart

EUR/JPY

Overview:
    Today Last Price: 124.76
    Today Daily change: 0.10 pips
    Today Daily change %: 0.08%
    Today Daily Open: 124.66
Trends:
    Daily SMA20: 124.53
    Daily SMA50: 126.29
    Daily SMA100: 128.04
    Daily SMA200: 128.65
Levels:
    Previous Daily High: 125.3
    Previous Daily Low: 124.48
    Previous Weekly High: 125.32
    Previous Weekly Low: 123.78
    Previous Monthly High: 127.07
    Previous Monthly Low: 118.84
    Daily Fibonacci 38.2%: 124.8
    Daily Fibonacci 61.8%: 124.99
    Daily Pivot Point S1: 124.33
    Daily Pivot Point S2: 124
    Daily Pivot Point S3: 123.51
    Daily Pivot Point R1: 125.14
    Daily Pivot Point R2: 125.63
    Daily Pivot Point R3: 125.96