EUR/JPY price analysis: Euro drops against yen, trades near 120.00 handle

EUR/JPY dived on Friday, breaking below the 120.56 support level.
The level to beat for sellers is the 119.95 support.

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 below the 121.00 handle in the last weeks of trading.

EUR/JPY four-hour chart

As discussed yesterday, the spot dropped to the 120.06 price level. As bears are in control, next week, if the spot break below 119.95, it could continue to decline towards 119.70 and 119.27, according to the Technical Confluences Indicator.

EUR/JPY 30-minute chart

The cross is under pressure below its main SMAs on the 30-minute chart. Resistances are seen at the 120.39 and 120.60 level.

Additional key levels

EUR/JPY

Overview
Today last price	120.04
Today Daily Change	-0.72
Today Daily Change %	-0.60
Today daily open	120.76

Trends
Daily SMA20	120.26
Daily SMA50	119.91
Daily SMA100	119.32
Daily SMA200	121.51

Levels
Previous Daily High	120.9
Previous Daily Low	120.55
Previous Weekly High	120.77
Previous Weekly Low	119.68
Previous Monthly High	121.31
Previous Monthly Low	119.24
Daily Fibonacci 38.2%	120.77
Daily Fibonacci 61.8%	120.68
Daily Pivot Point S1	120.57
Daily Pivot Point S2	120.39
Daily Pivot Point S3	120.22
Daily Pivot Point R1	120.92
Daily Pivot Point R2	121.09
Daily Pivot Point R3	121.27

Author

Flavio Tosti

Independent Analyst

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