EUR/JPY Price Analysis: Regains poise but keeps targeting 118.50

EUR/JPY regains some traction above the 119.00 mark on Tuesday.
The next target now emerges at the February lows in the 108.50 area.

Pablo Piovano FXStreet

After printing multi-week tops beyond 121.00 the figure last Wednesday, EUR/JPY has come under selling pressure and is once again navigating the sub-120.00 zone.

The cross is prolonging the recent breakdown of the key 200-day SMA in the 120.00 region. The continuation of the selling bias should see the cross testing the mid-118.00s in the near term, where emerge the February lows.

Extra losses are therefore likely while below the key 200-day SMA in the 120.00 neighbourhood.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	119.31
Today Daily Change	69
Today Daily Change %	0.19
Today daily open	119.08

Trends
Daily SMA20	119.07
Daily SMA50	119.76
Daily SMA100	120.44
Daily SMA200	120.02

Levels
Previous Daily High	120.35
Previous Daily Low	118.8
Previous Weekly High	121.15
Previous Weekly Low	117.73
Previous Monthly High	121.4
Previous Monthly Low	118.38
Daily Fibonacci 38.2%	119.39
Daily Fibonacci 61.8%	119.76
Daily Pivot Point S1	118.47
Daily Pivot Point S2	117.86
Daily Pivot Point S3	116.92
Daily Pivot Point R1	120.02
Daily Pivot Point R2	120.96
Daily Pivot Point R3	121.57

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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