Thursday, October 15, 2026

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FxWirePro: EUR/JPY holds above 5-DMA at 124.668, weakness only on breaks below

EUR/JPY recovery from 121.71 (new 3-year lows) capped ahead of 61.8% Fib of 128.22 to 121.71 fall at 125.73. Renewed bout of risk aversion in the Asian markets sending the Japanese stocks deeper in the red amid strengthe…

By FxWire Pro
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FxWirePro: EUR/JPY holds above 5-DMA at 124.668, weakness only on breaks below
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  • EUR/JPY recovery from 121.71 (new 3-year lows) capped ahead of 61.8% Fib of 128.22 to 121.71 fall at 125.73.
     
  • Renewed bout of risk aversion in the Asian markets sending the Japanese stocks deeper in the red amid strengthening yen.
     
  • BOJ policy decision due in the Asian morning this Thursday, where the Bank of Japan is expected to announce at least some risk-positive policy tweaks.
     
  • Daily cloud weighs on the upside, pair unable to hold gains, is struggling at the 125 handle.
     
  • Stochs and MACD on daily charts are biased higher, while RSI holds above the 50 levels.
     
  • The pair is trading in a narrow range, 125.39/124.91, weakness only on breaks below 124.68 (5-DMA).
     
  • Immediate resistance is seen at 125.14 (converged 2H 5&10-SMA), 125.39 (session highs) and 125.50 (April 22nd highs).
     
  • Supports on the downside are seen at 124.80 (April 25th lows), 124.68 (5-DMA) and 124.20 (38.2% Fib of 128.22 to 121.71 fall).
     

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By FxWirePro Team