Thursday, October 15, 2026

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FxWirePro: EUR/JPY rejected at session highs 124.13, EZ inflation data awaited for further direction

EUR/JPY was rejected at session highs by 124.13, has slipped below 124 handle to currently trade at 123.45. The shared currency is losing the grip in the European session as we head into eurozone flash inflation data. Th…

By FxWire Pro
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FxWirePro: EUR/JPY rejected at session highs 124.13, EZ inflation data awaited for further direction
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  • EUR/JPY was rejected at session highs by 124.13, has slipped below 124 handle to currently trade at 123.45.
     
  • The shared currency is losing the grip in the European session as we head into eurozone flash inflation data.
     
  • The pair finds major resistance at 124.19 (trendline and 55-EMA), breaks above needed for further upside, weakness only below 123 levels. 
     
  • Supports on the downside are located at 123.08 (converged 5&10-DMA), 122.65 (May 30th lows) and 122.21 (May 27th lows).
     
  • Resistances above 124.19 are seen at 124.65 (May 12th highs) and then 125.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-EUR-JPY-extends-gains-above-123-handle-focus-now-on-German-CPI-data-214632) has hit TP1 and 2.
    ​

Recommend holding for targets. Bullish invalidation below 123 levels.
 

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By FxWirePro Team