EUR/JPY Price Analysis: Euro trading off 2020 lows, remains vulnerable vs. yen

EUR/JPY is under selling pressure while trading off the 2020 lows near the 120.00 level.
The level to beat for bears is the 119.90 support.

Flavio Tosti Independent Analyst

EUR/JPY daily chart

EUR/JPY is consolidating the recent drop near the 120.00 figure while trading below the main simple moving averages (SMAs).

EUR/JPY four-hour chart

The market remains under selling pressure despite the possibility of a correction. Bears would be looking to pierce the 119.90 support to reach the 119.65 and 119.40 levels, according to the Technical Confluences Indicator. Resistances are seen near 120.40, 120.82 and 121.15 levels.

Additional key level

EUR/JPY

Overview
Today last price	120.07
Today Daily Change	0.10
Today Daily Change %	0.08
Today daily open	119.97

Trends
Daily SMA20	121.62
Daily SMA50	121.22
Daily SMA100	120.37
Daily SMA200	120.75

Levels
Previous Daily High	120.46
Previous Daily Low	119.91
Previous Weekly High	122.37
Previous Weekly Low	120.42
Previous Monthly High	124.2
Previous Monthly Low	119.98
Daily Fibonacci 38.2%	120.12
Daily Fibonacci 61.8%	120.25
Daily Pivot Point S1	119.76
Daily Pivot Point S2	119.56
Daily Pivot Point S3	119.2
Daily Pivot Point R1	120.32
Daily Pivot Point R2	120.67
Daily Pivot Point R3	120.87

Author

Flavio Tosti

Independent Analyst

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