EUR/JPY price analysis: Euro eases from daily highs, trades above 120.55 support against yen


  • EUR/JPY bulls wanted to retest the 121.00 handle but got stopped at the 120.80 resistance.
  • The level to beat for sellers is the 120.55 support. 
 

EUR/JPY daily chart

 
EUR/JPY is trading in a bear trend below its 200-day simple moving average (DMA). However, the spot has been stuck in a correction below the 121.00 handle in the last weeks of trading. 
 

EUR/JPY four-hour chart

 
The market challenged the 120.80 resistance but found not acceptance. As the underlying trend is bearish, the spot is more likely to break below the 120.55 support level and decline towards the 120.38 and 120.13 price levels, according to Technical Confluences Indicator.
 
 
 

EUR/JPY 30-minute chart

 
The cross is trading near a flat 200 SMA while in the middle of the weekly range. Resistance is seen at the 120.80, 121.08 and 121.30 price levels, according to Technical Confluences Indicator.
 

Additional key levels

EUR/JPY

Overview
Today last price 120.59
Today Daily Change 0.21
Today Daily Change % 0.17
Today daily open 120.38
 
Trends
Daily SMA20 120.26
Daily SMA50 119.8
Daily SMA100 119.33
Daily SMA200 121.57
 
Levels
Previous Daily High 120.97
Previous Daily Low 120.24
Previous Weekly High 120.77
Previous Weekly Low 119.68
Previous Monthly High 121.31
Previous Monthly Low 119.24
Daily Fibonacci 38.2% 120.52
Daily Fibonacci 61.8% 120.69
Daily Pivot Point S1 120.09
Daily Pivot Point S2 119.8
Daily Pivot Point S3 119.36
Daily Pivot Point R1 120.82
Daily Pivot Point R2 121.26
Daily Pivot Point R3 121.55

 

 

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