EUR/JPY Price Analysis: Euro bounces from 2020 lows and challenges 121.00 figure

EUR/JPY is bouncing from four-month lows.
The level to beat for bulls is the 121.43 resistance.

Flavio Tosti Independent Analyst

EUR/JPY daily chart

EUR/JPY is reversing up from four-month lows while trading off the 50-day simple moving average (SMA).

EUR/JPY four-hour chart

The spot bounced from the 2020 lows and is now challenging the 121.00 figure and the 200 SMA on the four-hour chart. Bulls are for now remaining in control as the reversal up was quite sharp. A break above 121.43 can lead to further upside towards the 121.80 and 122.18 levels. On the flip side, retracements down may find support near the 120.55 and 120.04 levels, according to the Technical Confluences Indicator.

Resistance: 121.43, 121.80, 122.18

Support: 120.55, 120.04, 119.79

Additional key levels

EUR/JPY

Overview
Today last price	120.94
Today Daily Change	0.68
Today Daily Change %	0.57
Today daily open	120.26

Trends
Daily SMA20	120.01
Daily SMA50	121.06
Daily SMA100	120.59
Daily SMA200	120.4

Levels
Previous Daily High	120.5
Previous Daily Low	118.56
Previous Weekly High	120.34
Previous Weekly Low	118.87
Previous Monthly High	122.88
Previous Monthly Low	119.78
Daily Fibonacci 38.2%	119.76
Daily Fibonacci 61.8%	119.3
Daily Pivot Point S1	119.05
Daily Pivot Point S2	117.83
Daily Pivot Point S3	117.11
Daily Pivot Point R1	120.98
Daily Pivot Point R2	121.71
Daily Pivot Point R3	122.92

Author

Flavio Tosti

Independent Analyst

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