EUR/JPY Price Analysis: Door open for a move to 119.00 (and below)


  • EUR/JPY saw its downside intensified on Friday and broke below 120.00.
  • Further downside could see the YTD low in the mid-118.00s re-visited.

EUR/JPY is suffering the increased JPY-buying amidst persistent demand for the safe haven universe, always in response to the panic surrounding the COVID-19.

Following the breach of the key 200-day SMA, the cross has shifted the focus to the likelihood of further retracements.

Against this backdrop, a move to the area of 2020 lows near 118.50 should not be ruled out in the short-term horizon.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 119.65
Today Daily Change 109
Today Daily Change % -0.90
Today daily open 120.74
 
Trends
Daily SMA20 120.06
Daily SMA50 120.91
Daily SMA100 120.76
Daily SMA200 120.33
 
Levels
Previous Daily High 121.04
Previous Daily Low 119.95
Previous Weekly High 121.4
Previous Weekly Low 118.46
Previous Monthly High 122.88
Previous Monthly Low 119.78
Daily Fibonacci 38.2% 120.62
Daily Fibonacci 61.8% 120.37
Daily Pivot Point S1 120.12
Daily Pivot Point S2 119.49
Daily Pivot Point S3 119.03
Daily Pivot Point R1 121.2
Daily Pivot Point R2 121.66
Daily Pivot Point R3 122.29

 

 

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