EUR/JPY Price Analysis: Corrective downside could test the 200-day SMA


  • EUR/JPY intensifies the leg lower below the 121.00 mark on Friday.
  • Immediately to the downside is located the 200-day SMA near 119.60.

EUR/JPY is losing ground for the third session in a row at the end of the week following a broad-based pick-up in the risk-off sentiment and after being rejected from the mid-121.00s in past sessions.

If the selling pressure gathers traction, then the door is open for a potential move lower to the 200-day SMA at 119.62.

As long as this area of support holds the downside, the outlook on the cross is seen as constructive. This contention area is also reinforced by June’s lows in the 119.30 region.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 120.68
Today Daily Change 32
Today Daily Change % -0.12
Today daily open 120.83
 
Trends
Daily SMA20 120.99
Daily SMA50 118.89
Daily SMA100 118.81
Daily SMA200 119.67
 
Levels
Previous Daily High 121.44
Previous Daily Low 120.75
Previous Weekly High 121.1
Previous Weekly Low 119.32
Previous Monthly High 124.43
Previous Monthly Low 119.32
Daily Fibonacci 38.2% 121.02
Daily Fibonacci 61.8% 121.18
Daily Pivot Point S1 120.57
Daily Pivot Point S2 120.32
Daily Pivot Point S3 119.88
Daily Pivot Point R1 121.26
Daily Pivot Point R2 121.7
Daily Pivot Point R3 121.95

 

 

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