EUR/JPY technical analysis: Bears target a break to 117.40

Bears in control with expanding moving averages pressuring the downside.
The 20-DMA is first key resistance but bears target a break of 118 handle.

Ross J Burland FXStreet

EUR/JPY is trading in a bearish daily trend but is stalling at the 118 handle as risk appetite returns. EUR/JPY recently exceeded the prior 2019 lows pressured by expanding moving averages on the way down with the price a sell on rallies.

A break of 118 will open the next support to the downside at 117.40/19 which guards the 114.86 2017 low. On the upside, an initial resistance is the 20-day moving average in the 119.32 ahead of the 120.06 25th July low.

EUR/JPY

Overview
Today last price	118.15
Today Daily Change	0.18
Today Daily Change %	0.15
Today daily open	117.97

Trends
Daily SMA20	119.46
Daily SMA50	120.9
Daily SMA100	122.43
Daily SMA200	124.3

Levels
Previous Daily High	118.18
Previous Daily Low	117.58
Previous Weekly High	119.59
Previous Weekly Low	117.52
Previous Monthly High	123.36
Previous Monthly Low	120.04
Daily Fibonacci 38.2%	117.95
Daily Fibonacci 61.8%	117.8
Daily Pivot Point S1	117.64
Daily Pivot Point S2	117.31
Daily Pivot Point S3	117.04
Daily Pivot Point R1	118.24
Daily Pivot Point R2	118.51
Daily Pivot Point R3	118.84

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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