EUR/JPY Price Analysis: Scope for a drop to 117.00

EUR/JPY dropped further to sub-119.00 levels, fresh 2020 lows.
The next support emerges at the October 2019 low at 117.07.

Pablo Piovano FXStreet

The bearish note around EUR/JPY remains unchanged for the time being, encouraging the cross to breach the key support at 119.00 the figure.

While below the key 200-day SMA, today at 120.46, the outlook on the cross is expected to remain negative.

Against this backdrop, the immediate support emerges at the October 2019 low at 117.07.

EUR/JPY dail;y chart

EUR/JPY

Overview
Today last price	119.09
Today Daily Change	27
Today Daily Change %	0.06
Today daily open	119.02

Trends
Daily SMA20	120.57
Daily SMA50	121.16
Daily SMA100	120.54
Daily SMA200	120.48

Levels
Previous Daily High	119.74
Previous Daily Low	118.88
Previous Weekly High	121.15
Previous Weekly Low	119.92
Previous Monthly High	122.88
Previous Monthly Low	119.78
Daily Fibonacci 38.2%	119.2
Daily Fibonacci 61.8%	119.41
Daily Pivot Point S1	118.69
Daily Pivot Point S2	118.35
Daily Pivot Point S3	117.83
Daily Pivot Point R1	119.55
Daily Pivot Point R2	120.07
Daily Pivot Point R3	120.41

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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