EUR/JPY Technical Analysis: Drops and rebounds from yearly lows in the mid-116.00s

EUR/JPY tumbles to fresh 2019 lows in the 116.50 region just to rebound afterwards and return to levels above the 117.00 handle.
The continuation of the squeeze higher faces the initial hurdle at the 10-day SMA just above 118.00 the figure. Immediately above lies last week’s tops at 118.47 (August 19) and the 21-day SMA at 118.67.
Looking at the broader picture, while below the 55-day SMA at 120.53 and the multi-month resistance line at 120.77, the bearish view is expected to remain unchanged.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	117.72
Today Daily Change	135
Today Daily Change %	0.21
Today daily open	117.47

Trends
Daily SMA20	118.73
Daily SMA50	120.46
Daily SMA100	122.08
Daily SMA200	124.03

Levels
Previous Daily High	118.17
Previous Daily Low	117.26
Previous Weekly High	118.48
Previous Weekly Low	117.26
Previous Monthly High	123.36
Previous Monthly Low	120.04
Daily Fibonacci 38.2%	117.6
Daily Fibonacci 61.8%	117.82
Daily Pivot Point S1	117.09
Daily Pivot Point S2	116.72
Daily Pivot Point S3	116.18
Daily Pivot Point R1	118.01
Daily Pivot Point R2	118.54
Daily Pivot Point R3	118.92

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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