EUR/JPY Price Analysis: Interim support emerged at 114.50

EUR/JPY manages to bounce off new 2020 lows in the mid-114.00s.
The negative stance stays unchanged below the resistance line at 117.10.

Pablo Piovano FXStreet

Despite the ongoing recovery from fresh yearly lows in the 114.50 region, the selling bias in EUR/JPY remains well in place as well as the probability of a deeper pullback.

Against the backdrop of increasing downside pressure, the cross now faces the next relevant contention in the 113.70 region, where sits the November 2016 lows.

Looking at the broader picture, the downside pressure is expected to lose some momentum above the immediate resistance, today around 117.10.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	115.09
Today Daily Change	41
Today Daily Change %	0.03
Today daily open	115.06

Trends
Daily SMA20	116.62
Daily SMA50	117.94
Daily SMA100	119.43
Daily SMA200	119.4

Levels
Previous Daily High	115.14
Previous Daily Low	114.45
Previous Weekly High	117.78
Previous Weekly Low	115.45
Previous Monthly High	119.04
Previous Monthly Low	115.45
Daily Fibonacci 38.2%	114.88
Daily Fibonacci 61.8%	114.72
Daily Pivot Point S1	114.63
Daily Pivot Point S2	114.2
Daily Pivot Point S3	113.94
Daily Pivot Point R1	115.32
Daily Pivot Point R2	115.57
Daily Pivot Point R3	116

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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