EUR/JPY Technical Analysis: Euro challenging 120.43 key resistance against yen

EUR/JPY is climbing to weekly highs against the Japanese currency.
The level to beat for bulls is the 120.43 price level.

Flavio Tosti Independent Analyst

EUR/JPY daily chart

EUR/JPY is trading in a bear trend below its 200-day simple moving average (DMA). The spot is correcting the October rally as the market remains capped by the 121.00 figure.

EUR/JPY four-hour chart

The market is testing the 120.43 resistance level and the 200 SMA on the four-hour chart. This is likely a critical resistance and if the bulls can overcome it, the market is set to breakout to the upside. The next main resistances on the way up are seen at the 120.81 and 121.18 price levels, according to Technical Confluences Indicator.

EUR/JPY 30-minute chart

The cross is climbing above its main SMAs, suggesting a bullish bias in the near term. Support is seen at the 120.06 and 119.70 price levels, according to Technical Confluences Indicator.

Additional key levels

EUR/JPY

Overview
Today last price	120.39
Today Daily Change	0.18
Today Daily Change %	0.15
Today daily open	120.21

Trends
Daily SMA20	120.34
Daily SMA50	119.61
Daily SMA100	119.38
Daily SMA200	121.7

Levels
Previous Daily High	120.25
Previous Daily Low	119.88
Previous Weekly High	120.7
Previous Weekly Low	119.66
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	120.11
Daily Fibonacci 61.8%	120.02
Daily Pivot Point S1	119.98
Daily Pivot Point S2	119.74
Daily Pivot Point S3	119.61
Daily Pivot Point R1	120.34
Daily Pivot Point R2	120.48
Daily Pivot Point R3	120.71

Author

Flavio Tosti

Independent Analyst

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