EUR/JPY Price Analysis: Euro eyeing January lows, trading sub-121.00 figure

EUR/JPY is under heavy selling pressure while trading near weekly/monthly lows.
The level to beat for sellers is the 120.65 support.

Flavio Tosti Independent Analyst

EUR/JPY daily chart

The market is continuing to weaken from January’s tops trading below the 121.00 figure while holding above the main daily simple moving averages (SMAs).

EUR/JPY four-hour chart

The spot is challenging the 120.90 support while below the main simple moving averages (SMAs) on the four-hour chart. As EUR/JPY is under selling pressure the spot is set to keep depreciating towards the 120.65 and 120.30 levels, according to the Technical Confluences Indicator. Resistances are seen near 121.28 and 121.70 levels.

Additional key level

EUR/JPY

Overview
Today last price	120.84
Today Daily Change	-0.21
Today Daily Change %	-0.17
Today daily open	121.05

Trends
Daily SMA20	121.81
Daily SMA50	121.22
Daily SMA100	120.32
Daily SMA200	120.81

Levels
Previous Daily High	121.9
Previous Daily Low	120.64
Previous Weekly High	122.88
Previous Weekly Low	121.76
Previous Monthly High	124.2
Previous Monthly Low	119.98
Daily Fibonacci 38.2%	121.12
Daily Fibonacci 61.8%	121.41
Daily Pivot Point S1	120.49
Daily Pivot Point S2	119.93
Daily Pivot Point S3	119.23
Daily Pivot Point R1	121.75
Daily Pivot Point R2	122.45
Daily Pivot Point R3	123.01

Author

Flavio Tosti

Independent Analyst

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