EUR/JPY Price Analysis: A drop to the 200-day SMA is not ruled out

EUR/JPY remains within a consolidative range below the 123.00 mark.
The resumption of the selling bias could see the 200-day SMA retested.

Pablo Piovano FXStreet

EUR/JPY still navigates within a side-lined mood in the sub-123.00 region so far on Monday.

The recent selling pressure seems to have met decent contention in the vicinity of 122.40 on Monday, where also lies the 100-day SMA. If cleared, the critical 200-day SMA, today at 120.88, should return to the investors’ radar.

Below the 200-day SMA the outlook on the cross is expected to shift to bearish.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	122.82
Today Daily Change	51
Today Daily Change %	0.02
Today daily open	122.79

Trends
Daily SMA20	124.71
Daily SMA50	124.78
Daily SMA100	122.45
Daily SMA200	120.91

Levels
Previous Daily High	123.16
Previous Daily Low	122.61
Previous Weekly High	123.94
Previous Weekly Low	122.52
Previous Monthly High	126.85
Previous Monthly Low	123.99
Daily Fibonacci 38.2%	122.82
Daily Fibonacci 61.8%	122.95
Daily Pivot Point S1	122.55
Daily Pivot Point S2	122.31
Daily Pivot Point S3	122.01
Daily Pivot Point R1	123.09
Daily Pivot Point R2	123.4
Daily Pivot Point R3	123.64

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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