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EUR/JPY Price Analysis: Euro eying a break above the 121.62 resistance vs. yen

  • EUR/JPY correction up is back in play above the 121.11 support. 
  • The level to beat for bulls is the 121.62 resistance.

EUR/JPY daily chart

EUR/JPY formed a head-and-shoulders pattern while trading just above the 121.00 handle and the 200-day simple moving average (SMA).
 

EUR/JPY four-hour chart

The market is trying to form a base above the 120.00 handle . However, the spot would need a clear break above the trendline and the 121.62 resistance. Further up lie the 122.12 and 122.63 resistances. Support is seen near 121.11, 120.73, 120.40 and the 120.00 handle, according to the Technical Confluences Indicator
    

Additional key levels

EUR/JPY

Overview
Today last price 121.29
Today Daily Change 0.32
Today Daily Change % 0.26
Today daily open 120.97
 
Trends
Daily SMA20 121.56
Daily SMA50 120.86
Daily SMA100 119.78
Daily SMA200 121.04
 
Levels
Previous Daily High 121.45
Previous Daily Low 120.78
Previous Weekly High 122.49
Previous Weekly Low 120.16
Previous Monthly High 124.2
Previous Monthly Low 119.98
Daily Fibonacci 38.2% 121.04
Daily Fibonacci 61.8% 121.2
Daily Pivot Point S1 120.68
Daily Pivot Point S2 120.4
Daily Pivot Point S3 120.01
Daily Pivot Point R1 121.36
Daily Pivot Point R2 121.74
Daily Pivot Point R3 122.03

 

 

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