EUR/JPY Price Analysis: Further downside could extend to 119.24

The leg lower in EUR/JPY has intensified and reaches the 120.00 area.
Immediately to the downside emerges the 119.60 region.

Pablo Piovano FXStreet

The downside in EUR/JPY has picked up extra pace after breaching the key 200-day SMA in the 120.80 region on Friday and the 100-day SMA around 120.30 on Monday.

If the selling impetus gathers extra traction, then the 119.60 region should come into focus (late November 2019 lows) ahead of the monthly low at 119.24.

As long as the 200-day SMA caps the upside, the selling bias in the cross is expected to remain unchanged.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	120.01
Today Daily Change	49
Today Daily Change %	-0.42
Today daily open	120.52

Trends
Daily SMA20	121.72
Daily SMA50	121.23
Daily SMA100	120.35
Daily SMA200	120.78

Levels
Previous Daily High	121.27
Previous Daily Low	120.42
Previous Weekly High	122.37
Previous Weekly Low	120.42
Previous Monthly High	124.2
Previous Monthly Low	119.98
Daily Fibonacci 38.2%	120.75
Daily Fibonacci 61.8%	120.95
Daily Pivot Point S1	120.2
Daily Pivot Point S2	119.89
Daily Pivot Point S3	119.36
Daily Pivot Point R1	121.05
Daily Pivot Point R2	121.59
Daily Pivot Point R3	121.9

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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