EUR/JPY Price Analysis: Remains on the defensive near 119.25

EUR/JPY stays weak and dropped to 119.30/25, new 2020 lows.
Further south emerges the November 2019 low at 119.24.

Pablo Piovano FXStreet

EUR/JPY is prolonging the leg lower after breaking below the 120.00 mark earlier in the session.

If sellers keep controlling the markets’ sentiment then the next target should emerge at the November 2019 low at 119.24 ahead of the October 2019 low at 117.07.

The bearish stance remains well in place as long as the 200-day SMA, today at 120.48, caps the upside.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	119.39
Today Daily Change	47
Today Daily Change %	-0.27
Today daily open	119.71

Trends
Daily SMA20	120.75
Daily SMA50	121.2
Daily SMA100	120.52
Daily SMA200	120.5

Levels
Previous Daily High	120.3
Previous Daily Low	119.62
Previous Weekly High	121.15
Previous Weekly Low	119.92
Previous Monthly High	122.88
Previous Monthly Low	119.78
Daily Fibonacci 38.2%	119.88
Daily Fibonacci 61.8%	120.04
Daily Pivot Point S1	119.45
Daily Pivot Point S2	119.19
Daily Pivot Point S3	118.76
Daily Pivot Point R1	120.14
Daily Pivot Point R2	120.57
Daily Pivot Point R3	120.83

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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