EUR/JPY Price Analysis: Euro challenging December highs, approaching the 121.00 handle

EUR/JPY is rolling into Asia near the 120.85 resistance level.
Support is seen at the 120.66 and 120.40 levels.

Flavio Tosti Independent Analyst

EUR/JPY daily chart

EUR/JPY is trading in a bear trend below the 200-day simple moving average (DMA). However, the spot has been correcting the October’s rally below the 121.00 handle in the last weeks of trading.

EUR/JPY four-hour chart

Buyers broke above the 120.66 resistance and are now challenging the 120.85 level. The next big hurdle is likely going to be the 121.00 handle. If the bulls can break above it, the path of least resistance would probably be to the upside with investors potentially targetting the 121.35 and 121.55 levels, according to the Technical Confluences Indicator.

EUR/JPY 30-minute chart

The bulls are in control above the main SMAs on the 30-minute chart. Support is seen at the 120.66 and 120.40 levels.

Additional key levels

EUR/JPY

Overview
Today last price	120.85
Today Daily Change	0.17
Today Daily Change %	0.14
Today daily open	120.68

Trends
Daily SMA20	120.27
Daily SMA50	120.06
Daily SMA100	119.3
Daily SMA200	121.41

Levels
Previous Daily High	120.7
Previous Daily Low	120.08
Previous Weekly High	121.02
Previous Weekly Low	120
Previous Monthly High	121.31
Previous Monthly Low	119.24
Daily Fibonacci 38.2%	120.46
Daily Fibonacci 61.8%	120.32
Daily Pivot Point S1	120.28
Daily Pivot Point S2	119.88
Daily Pivot Point S3	119.67
Daily Pivot Point R1	120.89
Daily Pivot Point R2	121.1
Daily Pivot Point R3	121.5

Author

Flavio Tosti

Independent Analyst

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