EUR/JPY Price Analysis: Upside stalled just ahead of the 200-day SMA

EUR/JPY trims gains after testing the key 200-day SMA near 120.30.
The cross remains volatile and keeps looking to risk trends for direction.

Pablo Piovano FXStreet

Volatility has picked up around EUR/JPY on Monday, always looking to developments from the Chinese coronavirus for near-term direction.

The daily price action saw a test of the boundaries of the 120.30 region, where sits the 200-day SMA, and the proximity of 118.50, area close to the 2020 lows recorded on Friday.

While the cross keeps waiting for a stronger catalyst for price direction, further consolidation should not be ruled out, likely between 121.50 and 118.50.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	119.36
Today Daily Change	165
Today Daily Change %	0.24
Today daily open	119.08

Trends
Daily SMA20	120.01
Daily SMA50	120.86
Daily SMA100	120.76
Daily SMA200	120.32

Levels
Previous Daily High	120.76
Previous Daily Low	118.38
Previous Weekly High	121.07
Previous Weekly Low	118.38
Previous Monthly High	121.4
Previous Monthly Low	118.38
Daily Fibonacci 38.2%	119.29
Daily Fibonacci 61.8%	119.85
Daily Pivot Point S1	118.06
Daily Pivot Point S2	117.03
Daily Pivot Point S3	115.68
Daily Pivot Point R1	120.43
Daily Pivot Point R2	121.78
Daily Pivot Point R3	122.81

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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