EUR/JPY Price Analysis: Corrective downside eyes a move to 119.70


  • EUR/JPY loses the grip and breaks below the 121.00 mark.
  • A potential move to the 200-day SMA at 119.70 is now on the cards.

EUR/JPY keeps fading the failed attempt to surpass the 122.00 neighbourhood, coming under increasing selling pressure on the back of the improved sentiment in the Japanese yen.

If the selling bias gathers traction, then the door should remain open for a probable move to the 200-day SMA in the 119.70 region.

As long as the 200-day SMA near 119.70 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 120.63
Today Daily Change 79
Today Daily Change % -0.29
Today daily open 120.98
 
Trends
Daily SMA20 120.73
Daily SMA50 119.38
Daily SMA100 118.89
Daily SMA200 119.76
 
Levels
Previous Daily High 121.97
Previous Daily Low 120.9
Previous Weekly High 121.48
Previous Weekly Low 120.05
Previous Monthly High 124.43
Previous Monthly Low 119.32
Daily Fibonacci 38.2% 121.31
Daily Fibonacci 61.8% 121.56
Daily Pivot Point S1 120.6
Daily Pivot Point S2 120.22
Daily Pivot Point S3 119.54
Daily Pivot Point R1 121.66
Daily Pivot Point R2 122.35
Daily Pivot Point R3 122.72

 

 

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