EUR/JPY Price Analysis: Recovery could extend to 120.40, the 200-day SMA

EUR/JPY rebounds from 2020 lows and regains 119.00.
The next target of relevance aligns at the 200-day SMA at 120.40.

Pablo Piovano FXStreet

EUR/JPY has managed to regain upside traction and retake the 119.00 mark on the back of the better mood in the euro and renewed selling bias surrounding the Japanese currency.

If the upside bias gathers pace, then the 200-day SMA, today at 120.40, is expected to become the next target of significance.

In the meantime, while below the key 200-day SMA, the outlook on the cross is expected to remain negative.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	119.16
Today Daily Change	67
Today Daily Change %	0.47
Today daily open	118.6

Trends
Daily SMA20	120.1
Daily SMA50	121.08
Daily SMA100	120.57
Daily SMA200	120.42

Levels
Previous Daily High	119.11
Previous Daily Low	118.46
Previous Weekly High	120.34
Previous Weekly Low	118.87
Previous Monthly High	122.88
Previous Monthly Low	119.78
Daily Fibonacci 38.2%	118.71
Daily Fibonacci 61.8%	118.86
Daily Pivot Point S1	118.34
Daily Pivot Point S2	118.08
Daily Pivot Point S3	117.7
Daily Pivot Point R1	118.99
Daily Pivot Point R2	119.37
Daily Pivot Point R3	119.63

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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