EUR/JPY Price Analysis: Euro drop to its lowest since October 2019 vs. yen

  • EUR/JPY is under heavy pressure near four-month lows. 
  • The level to beat for bears is the 118.73 support.

EUR/JPY daily chart

EUR/JPY is trading close to four-months lows while trading under its main daily simple moving averages (SMAs).

EUR/JPY four-hour chart

The spot is trading below its main SMAs suggesting a bearish bias in the medium term. As the market is dropping to four-month lows, the bears are looking for a continuation down towards the 118.73 level. A break below the above-mentioned support could lead to extra losses towards the 118.49 and 117.87 levels. Resistance is seen near the 119.23, 119.48 and 119.73 price levels, according to the Technical Confluences Indicator.    
Resistance: 119.23, 119.48, 119.73
Support: 118.73, 118.49, 117.87 

Additional key levels


Today last price 118.94
Today Daily Change -0.77
Today Daily Change % -0.64
Today daily open 119.71
Daily SMA20 120.75
Daily SMA50 121.2
Daily SMA100 120.52
Daily SMA200 120.5
Previous Daily High 120.3
Previous Daily Low 119.62
Previous Weekly High 121.15
Previous Weekly Low 119.92
Previous Monthly High 122.88
Previous Monthly Low 119.78
Daily Fibonacci 38.2% 119.88
Daily Fibonacci 61.8% 120.04
Daily Pivot Point S1 119.45
Daily Pivot Point S2 119.19
Daily Pivot Point S3 118.76
Daily Pivot Point R1 120.14
Daily Pivot Point R2 120.57
Daily Pivot Point R3 120.83



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