EUR/JPY Technical Analysis: Decline expected to break below the 120.00 level in the near term

The cross is extending the protracted down move and is now threatening to breach the key support at the 120.00 handle.
The cross has recently broken below the key contention area at 120.80 and in doing so has paved the way for a deeper pullback.
Immediately to the downside emerges 2019 lows in the sub-119.00 zone recorded in early January.
Furthermore, the bearish view should remain unchanged below the 55-day SMA at 121.98.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	120.34
Today Daily Change	38
Today Daily Change %	-0.15
Today daily open	120.52

Trends
Daily SMA20	121.59
Daily SMA50	121.94
Daily SMA100	123.47
Daily SMA200	125.1

Levels
Previous Daily High	120.74
Previous Daily Low	120.2
Previous Weekly High	121.86
Previous Weekly Low	120.78
Previous Monthly High	123.18
Previous Monthly Low	120.78
Daily Fibonacci 38.2%	120.41
Daily Fibonacci 61.8%	120.53
Daily Pivot Point S1	120.24
Daily Pivot Point S2	119.95
Daily Pivot Point S3	119.71
Daily Pivot Point R1	120.77
Daily Pivot Point R2	121.02
Daily Pivot Point R3	121.3

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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