EUR/JPY Technical Analysis: Occasional drops expected to face support near 121.00

EUR/JPY is recovering some ground lost after bottoming out in the vicinity of 121.00 the figure earlier in the week.
The resumption of the selling impetus could expose a visit to recent lows in the 120.80/75 band ahead of 2019 lows in sub-119.00 levels (‘flash crash’ in early January).
In the meantime, the cross needs to surpass the immediate resistance line at 122.55 in order to mitigate downside pressure and allow for a test of monthly peaks above the 123.00 handle.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	121.56
Today Daily Change	51
Today Daily Change %	0.16
Today daily open	121.36

Trends
Daily SMA20	122.03
Daily SMA50	123.47
Daily SMA100	124.44
Daily SMA200	126.27

Levels
Previous Daily High	121.66
Previous Daily Low	121.16
Previous Weekly High	123.18
Previous Weekly Low	121.58
Previous Monthly High	125.24
Previous Monthly Low	120.92
Daily Fibonacci 38.2%	121.35
Daily Fibonacci 61.8%	121.47
Daily Pivot Point S1	121.13
Daily Pivot Point S2	120.9
Daily Pivot Point S3	120.64
Daily Pivot Point R1	121.62
Daily Pivot Point R2	121.89
Daily Pivot Point R3	122.12

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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