EUR/JPY Price Analysis: There is a chance the price could break the trendline to move lower


  • EUR/JPY is trading 0.10% lower for the session on Thursday.
  • There is a key trendline and the price is currently heading towards it.

EUR/JPY 4-hour chart

In the US session, the pair has come under some pressure with the last 4-hour candle falling 0.34%. The candle engulfs the three previous positive candles which could be a bearish sign. One of the key points on the chart is the long upward sloping black trendline. If this breaks to the downside it could spell trouble for the pair but the red support zone at 119.30 could stem the losses.

The pair moved lower after the price hit the purple horizontal resistance zone of 121.44. If the level does break to the upside it would be a good indication that the pair could move back to the high on the chart of 124.43.

Looking at the indicators, the Relative Strength Index has turned bearish and moved below the 50 mark. The MACD histogram is now red but the lagging signal lines are above but mid-point which does indicate the underlying trend has not changed just yet.

EUR/JPY Technical Analysis

Additional levels

EUR/JPY

Overview
Today last price 120.82
Today Daily Change -0.10
Today Daily Change % -0.08
Today daily open 120.92
 
Trends
Daily SMA20 121.13
Daily SMA50 118.8
Daily SMA100 118.79
Daily SMA200 119.66
 
Levels
Previous Daily High 121.48
Previous Daily Low 120.26
Previous Weekly High 121.1
Previous Weekly Low 119.32
Previous Monthly High 124.43
Previous Monthly Low 119.32
Daily Fibonacci 38.2% 120.73
Daily Fibonacci 61.8% 121.01
Daily Pivot Point S1 120.29
Daily Pivot Point S2 119.67
Daily Pivot Point S3 119.07
Daily Pivot Point R1 121.51
Daily Pivot Point R2 122.11
Daily Pivot Point R3 122.73

 

 

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