EUR/JPY technical analysis: Euro easing from daily highs, trading near 120.70 level


  • EUR/JPY is erasing parts of the intraday advance. 
  • The level to beat for bears is the 120.70 support. 

EUR/JPY daily chart

 
EUR/JPY is trading in a bear trend below its 200-day simple moving average (DMA). However, in October the market had a bull rally to the 121.00 handle where the spot is now consolidating. 
 

EUR/JPY four-hour chart

 
On the four-hour chart, the market is trading below its 100 and 200 SMAs, suggesting weakening a bullish bias in the medium term. The spot is trapped in a range and the bulls would need to overcome the 121.28 and 121.53 resistance on a daily closing basis to resume the bull rally. 
 

EUR/JPY 30-minute chart

 
The market is easing from the daily highs now trading near the 120.70 level. The market has room to decline towards the 120.45 and 120.27 support levels in the short term. Further down lie the 119.80 level, according to the Technical Confluences Indicator.
 

Additional key levels

EUR/JPY

Overview
Today last price 120.68
Today Daily Change 0.09
Today Daily Change % 0.07
Today daily open 120.59
 
Trends
Daily SMA20 120.55
Daily SMA50 119.07
Daily SMA100 119.65
Daily SMA200 122.04
 
Levels
Previous Daily High 120.98
Previous Daily Low 120.46
Previous Weekly High 121.48
Previous Weekly Low 120.28
Previous Monthly High 121.48
Previous Monthly Low 117.07
Daily Fibonacci 38.2% 120.66
Daily Fibonacci 61.8% 120.78
Daily Pivot Point S1 120.38
Daily Pivot Point S2 120.17
Daily Pivot Point S3 119.87
Daily Pivot Point R1 120.89
Daily Pivot Point R2 121.19
Daily Pivot Point R3 121.4

 

 

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