EUR/JPY Price Analysis: The 200-day SMA offers support so far

EUR/JPY met some contention in the 200-day SMA near 119.50.
A breach of the 200-day SMA should open the door to extra losses.

Pablo Piovano FXStreet

Following a brief test of new 4-week lows near 119.30, EUR/JPY has managed to regain some poise and is now back to the boundaries of 120.00 the figure.

If the 200-day SMA in the mid-119.00s is breached on a convincing mood, that should pave the way for a deeper pullback in the near-term. That said, there are interim supports at the 100-day and the 55-day SMAs at 118.72 and 118.24, respectively.

In the meantime, the buying bias is expected to return to the market above the 200-day SMA.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	119.85
Today Daily Change	74
Today Daily Change %	0.39
Today daily open	119.39

Trends
Daily SMA20	120.72
Daily SMA50	118.24
Daily SMA100	118.77
Daily SMA200	119.59

Levels
Previous Daily High	120.22
Previous Daily Low	119.38
Previous Weekly High	122.12
Previous Weekly Low	119.38
Previous Monthly High	119.9
Previous Monthly Low	114.43
Daily Fibonacci 38.2%	119.7
Daily Fibonacci 61.8%	119.9
Daily Pivot Point S1	119.11
Daily Pivot Point S2	118.82
Daily Pivot Point S3	118.27
Daily Pivot Point R1	119.94
Daily Pivot Point R2	120.5
Daily Pivot Point R3	120.78

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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