EUR/JPY Price Analysis: Focus is back to the 115.50 region

The recovery in EUR/JPY met quite a tough barrier near the 118.00 mark.
Further downside should see the 2020 low in the 115.00 area retested.

Pablo Piovano FXStreet

After failing to extend the bounce beyond the 118.00 neighbourhood in past sessions, EUR/JPY is now facing downside pressure and trades back below the 117.00 mark.

If the selling bias intensifies in the near term, then another move to the yearly lows in the mid-115.00s should not be ruled out.

Looking at the broader picture, the downside pressure is expected to lose some momentum on a surpass of April tops in the 119.00 neighbourhood.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	117.4
Today Daily Change	75
Today Daily Change %	0.00
Today daily open	117.4

Trends
Daily SMA20	117.19
Daily SMA50	118.33
Daily SMA100	119.68
Daily SMA200	119.5

Levels
Previous Daily High	117.77
Previous Daily Low	117.02
Previous Weekly High	117.78
Previous Weekly Low	115.45
Previous Monthly High	119.04
Previous Monthly Low	115.45
Daily Fibonacci 38.2%	117.48
Daily Fibonacci 61.8%	117.31
Daily Pivot Point S1	117.02
Daily Pivot Point S2	116.65
Daily Pivot Point S3	116.28
Daily Pivot Point R1	117.77
Daily Pivot Point R2	118.14
Daily Pivot Point R3	118.52

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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