EUR/JPY technical analysis: Bulls trapped by descending resistance

Ross J Burland FXStreet

EUR/JPY has corrected to the downside following the 119.60 reversal and rallies are sold at the descending resistance line from the same top to the 19th and 20th August highs. Support is located in the 117.50s. Through the said top, we have 120.06 as the 25th July low ahead of the 55-day ma and the 3-month downtrend at 120.88/98.

EUR/JPY

Overview
Today last price	117.96
Today Daily Change	-0.17
Today Daily Change %	-0.14
Today daily open	118.13

Trends
Daily SMA20	119.32
Daily SMA50	120.81
Daily SMA100	122.37
Daily SMA200	124.25

Levels
Previous Daily High	118.48
Previous Daily Low	117.85
Previous Weekly High	119.59
Previous Weekly Low	117.52
Previous Monthly High	123.36
Previous Monthly Low	120.04
Daily Fibonacci 38.2%	118.24
Daily Fibonacci 61.8%	118.09
Daily Pivot Point S1	117.83
Daily Pivot Point S2	117.52
Daily Pivot Point S3	117.19
Daily Pivot Point R1	118.46
Daily Pivot Point R2	118.78
Daily Pivot Point R3	119.09

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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