EUR/JPY technical analysis: Bears on verge of close below Bollinger band deviation 1

Bears can target the 200-hour moving average on a break and close below 122 handle.
Bulls will need to find ground back towards the 200-day moving average on the 125 handle.

Ross J Burland FXStreet

EUR/JPY is trading around 122 with stop territory just below which could be targetted before a run back to the 122.20 highs within the rising channel. The price is on the verge of closing below Bollinger band deviation 1 on the hourly time frame, supporting a bearish bias.

The 200-hour SMA is located at 121.87. Below there lies the 2019 uptrend line at 121.32 and the 120.79 June low. the bears main objective would be a run to the 119.91 78.6% Fibonacci retracement which guards the 117.85 January spike low. On the upside, the 200-day moving average is located at 125.50 on the wide.

EUR/JPY

Overview
Today last price	122.1
Today Daily Change	-0.01
Today Daily Change %	-0.01
Today daily open	122.11

Trends
Daily SMA20	122.1
Daily SMA50	122.83
Daily SMA100	124.21
Daily SMA200	125.9

Levels
Previous Daily High	122.16
Previous Daily Low	121.61
Previous Weekly High	123.36
Previous Weekly Low	121.3
Previous Monthly High	123.18
Previous Monthly Low	120.78
Daily Fibonacci 38.2%	121.95
Daily Fibonacci 61.8%	121.82
Daily Pivot Point S1	121.76
Daily Pivot Point S2	121.42
Daily Pivot Point S3	121.22
Daily Pivot Point R1	122.31
Daily Pivot Point R2	122.51
Daily Pivot Point R3	122.85

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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