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EUR/JPY technical analysis: Bulls trapped by descending resistance

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 price117.96
Today Daily Change-0.17
Today Daily Change %-0.14
Today daily open118.13
 
Trends
Daily SMA20119.32
Daily SMA50120.81
Daily SMA100122.37
Daily SMA200124.25
Levels
Previous Daily High118.48
Previous Daily Low117.85
Previous Weekly High119.59
Previous Weekly Low117.52
Previous Monthly High123.36
Previous Monthly Low120.04
Daily Fibonacci 38.2%118.24
Daily Fibonacci 61.8%118.09
Daily Pivot Point S1117.83
Daily Pivot Point S2117.52
Daily Pivot Point S3117.19
Daily Pivot Point R1118.46
Daily Pivot Point R2118.78
Daily Pivot Point R3119.09

Author

Ross J Burland

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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