EUR/JPY technical analysis: Euro easing from daily highs, trading sub-120.45 level

EUR/JPY is losing steam nearing the 120.00 handle.
The level to beat for bears is the 120.15 support.

Flavio Tosti Independent Analyst

EUR/JPY daily chart

EUR/JPY is trading in a bear trend below its 200-day simple moving average (DMA). However, in October the cross had a bull run to the 121.00 figure. The market has entered a consolidation since then.

EUR/JPY four-hour chart

On the four-hour chart, the spot is losing some steam below its 50 and 100 SMAs. A break below 120.15 can drive the cross towards 119.80 in the medium term.

EUR/JPY 30-minute chart

The market is trading below downward sloping 100/200 SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 120.45, 120.65 and 120.90 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/JPY

Overview
Today last price	120.33
Today Daily Change	-0.04
Today Daily Change %	-0.03
Today daily open	120.37

Trends
Daily SMA20	120.68
Daily SMA50	119.2
Daily SMA100	119.62
Daily SMA200	122

Levels
Previous Daily High	120.88
Previous Daily Low	120.2
Previous Weekly High	121.31
Previous Weekly Low	120.14
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	120.46
Daily Fibonacci 61.8%	120.62
Daily Pivot Point S1	120.09
Daily Pivot Point S2	119.81
Daily Pivot Point S3	119.42
Daily Pivot Point R1	120.76
Daily Pivot Point R2	121.16
Daily Pivot Point R3	121.44

Author

Flavio Tosti

Independent Analyst

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