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.

Flavio Tosti Independent Analyst

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

EUR/JPY

Overview
Today last price	118.94
Today Daily Change	-0.77
Today Daily Change %	-0.64
Today daily open	119.71

Trends
Daily SMA20	120.75
Daily SMA50	121.2
Daily SMA100	120.52
Daily SMA200	120.5

Levels
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

Author

Flavio Tosti

Independent Analyst

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