EUR/JPY Price Analysis: Choppy moves in this pair

EUR/JPY trades 1.12% higher has EUR/USD buying droves price.
The pair has found some support 118.50 and pushed back through 120.00.

Rajan Dhall, MSTA FX Daily

EUR/JPY Daily Chart

EUR/JPY price action has been erratic, to say the least.

Yesterday the candle was very very bearish and hit a low of 118.37.

Today the whole move has reversed back up and broke 120.00 to the upside.

The area blue rectangle is now even more important as the wave low support.

On the topside, a break of the red trendline could indicate more bullishness to test the 122.50 area.

One other thing to notice is the fact that the support level was on the 61.8% Fibonacci level which is often key in this pair.

Additional Levels

EUR/JPY

Overview
Today last price	120.45
Today Daily Change	1.37
Today Daily Change %	1.15
Today daily open	119.08

Trends
Daily SMA20	120.01
Daily SMA50	120.86
Daily SMA100	120.76
Daily SMA200	120.32

Levels
Previous Daily High	120.76
Previous Daily Low	118.38
Previous Weekly High	121.07
Previous Weekly Low	118.38
Previous Monthly High	121.4
Previous Monthly Low	118.38
Daily Fibonacci 38.2%	119.29
Daily Fibonacci 61.8%	119.85
Daily Pivot Point S1	118.06
Daily Pivot Point S2	117.03
Daily Pivot Point S3	115.68
Daily Pivot Point R1	120.43
Daily Pivot Point R2	121.78
Daily Pivot Point R3	122.81

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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