EUR/JPY Technical Analysis: Bearish view unchanged. Next support lies at 114.85

The selling pressure around EUR/JPY remains unabated and is now navigating fresh yearly lows in the 117.60/50 band.
Looking at the broader picture, the negative stance on the cross is expected to remain unchanged while below the 121.35/40 band, where coincide the short-term resistance line and the 55-day SMA. Above this area the downside pressure should mitigate somewhat.
If the selling impetus picks up extra pace, the next relevant support aligns at 2017 low at 114.85.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	117.66
Today Daily Change	89
Today Daily Change %	-0.58
Today daily open	118.35

Trends
Daily SMA20	120.21
Daily SMA50	121.28
Daily SMA100	122.74
Daily SMA200	124.58

Levels
Previous Daily High	118.74
Previous Daily Low	118.08
Previous Weekly High	119.88
Previous Weekly Low	117.68
Previous Monthly High	123.36
Previous Monthly Low	120.04
Daily Fibonacci 38.2%	118.33
Daily Fibonacci 61.8%	118.49
Daily Pivot Point S1	118.04
Daily Pivot Point S2	117.73
Daily Pivot Point S3	117.37
Daily Pivot Point R1	118.7
Daily Pivot Point R2	119.06
Daily Pivot Point R3	119.37

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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