EUR/JPY Price Analysis: Downside met support at the 21-day SMA

The leg lower in EUR/JPY looks contained near 121.80.
Further south emerges the 200-day SMA at 120.87.

Pablo Piovano FXStreet

The downside momentum in EUR/JPY has apparently run out of steam in the 121.80 region, coincident with the 21-day SMA.

In case buyers regains control, there are no hurdles of note until last week’s 2020 highs in the vicinity of 122.90.

However, should the selling bias resume, then the 121.05/120.87 band should come into focus, where coincide the 55-day and 200-day SMAs. The continuation of the downtrend is also favoured by the divergence in the daily RSI.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	121.94
Today Daily Change	30
Today Daily Change %	0.15
Today daily open	121.76

Trends
Daily SMA20	121.82
Daily SMA50	121.15
Daily SMA100	120.25
Daily SMA200	120.86

Levels
Previous Daily High	122.37
Previous Daily Low	121.75
Previous Weekly High	122.88
Previous Weekly Low	121.76
Previous Monthly High	124.2
Previous Monthly Low	119.98
Daily Fibonacci 38.2%	121.99
Daily Fibonacci 61.8%	122.14
Daily Pivot Point S1	121.55
Daily Pivot Point S2	121.34
Daily Pivot Point S3	120.93
Daily Pivot Point R1	122.17
Daily Pivot Point R2	122.58
Daily Pivot Point R3	122.79

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.