EUR/JPY Price Analysis: Euro eying a break above the 121.62 resistance vs. yen

EUR/JPY correction up is back in play above the 121.11 support.
The level to beat for bulls is the 121.62 resistance.

Flavio Tosti Independent Analyst

EUR/JPY daily chart

EUR/JPY formed a head-and-shoulders pattern while trading just above the 121.00 handle and the 200-day simple moving average (SMA).

EUR/JPY four-hour chart

The market is trying to form a base above the 120.00 handle . However, the spot would need a clear break above the trendline and the 121.62 resistance. Further up lie the 122.12 and 122.63 resistances. Support is seen near 121.11, 120.73, 120.40 and the 120.00 handle, according to the Technical Confluences Indicator.

Additional key levels

EUR/JPY

Overview
Today last price	121.29
Today Daily Change	0.32
Today Daily Change %	0.26
Today daily open	120.97

Trends
Daily SMA20	121.56
Daily SMA50	120.86
Daily SMA100	119.78
Daily SMA200	121.04

Levels
Previous Daily High	121.45
Previous Daily Low	120.78
Previous Weekly High	122.49
Previous Weekly Low	120.16
Previous Monthly High	124.2
Previous Monthly Low	119.98
Daily Fibonacci 38.2%	121.04
Daily Fibonacci 61.8%	121.2
Daily Pivot Point S1	120.68
Daily Pivot Point S2	120.4
Daily Pivot Point S3	120.01
Daily Pivot Point R1	121.36
Daily Pivot Point R2	121.74
Daily Pivot Point R3	122.03

Author

Flavio Tosti

Independent Analyst

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