EUR/JPY Price Analysis: Euro correcting up against yen, trading near 120.60 level


  • EUR/JPY is correcting to the upside after the January’s drop.
  • The correction up could extend to the 120.85/95 resistance zone and the 121.25 level.  
 

EUR/JPY daily chart

 
EUR/JPY is challenging the 200-day simple moving average (SMA) while consolidating the recent drop. 
  

EUR/JPY four-hour chart

 
EUR/JPY is correcting to the upside after the drop seen in January. The correction up could extend to the 120.85/95 resistance zone and the 121.25 level. Bears will try to limit the recovery by trying to drive the price below the 120.51 support. Further down lie the 120.26 and 119.80 levels, according to the Technical Confluences Indicator. 
 
 
Resistance: 120.85/95, 121.25   
Support: 120.51, 120.26, 119.80 
 

Additional key levels

EUR/JPY

Overview
Today last price 120.7
Today Daily Change 0.51
Today Daily Change % 0.42
Today daily open 120.19
 
Trends
Daily SMA20 121.3
Daily SMA50 121.23
Daily SMA100 120.42
Daily SMA200 120.64
 
Levels
Previous Daily High 120.38
Previous Daily Low 119.92
Previous Weekly High 120.46
Previous Weekly Low 119.78
Previous Monthly High 122.88
Previous Monthly Low 119.78
Daily Fibonacci 38.2% 120.21
Daily Fibonacci 61.8% 120.1
Daily Pivot Point S1 119.95
Daily Pivot Point S2 119.71
Daily Pivot Point S3 119.49
Daily Pivot Point R1 120.41
Daily Pivot Point R2 120.62
Daily Pivot Point R3 120.87

 

 

Share: Feed news

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended content

Editors’ Picks

USD/JPY off lows, stays pressured near 142.50 ahead of BoJ policy decision

USD/JPY off lows, stays pressured near 142.50 ahead of BoJ policy decision

USD/JPY has bounced off lows but remains pressured near 142.50 in the Asian session on Friday. Markets turn risk-averse and flock to the safety in the Japanese Yen while the Fed-BoJ policy divergence and hot Japan's CPI data also support the Yen ahead of the BoJ policy verdict. 

USD/JPY News
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed. 

AUD/USD News
Gold consolidates near record high, bullish potential seems intact

Gold consolidates near record high, bullish potential seems intact

Gold price regained positive traction on Thursday and rallied back closer to the all-time peak touched the previous day in reaction to the Federal Reserve's decision to start the policy easing cycle with an oversized rate cut.

Gold News
Bank of Japan set to keep rates on hold after July’s hike shocked markets

Bank of Japan set to keep rates on hold after July’s hike shocked markets

The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session. 

Read more
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD (RUSD) stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures