EUR/JPY technical analysis: Euro ending the week near November lows

EUR/JPY is under selling pressure this Friday.
The level to beat for bears is the 120.27 support.

Flavio Tosti Independent Analyst

EUR/JPY daily chart

EUR/JPY is trading in a downtrend below the 200-day simple moving average (DMA). However, last month the cross had a bull rally to the 121.00 figure. The market entered a consolidation there.

EUR/JPY four-hour chart

On the four-hour chart, the market is trading below its 50 and 100 SMAs near the November lows, suggesting a slowdown in bullish momentum. The market is confined in a range and the buyers would need to overcome the 121.28 and 121.53 resistances on a daily basis to resume the bull run.

EUR/JPY 30-minute chart

The market is trading near the daily lows just above 120.27 support level. A break below the level can lead to a drop to the 119.80 level, according to the Technical Confluences Indicator. Resistance is seen at the 120.45 and 120.70 levels.

Additional key levels

EUR/JPY

Overview
Today last price	120.32
Today Daily Change	-0.39
Today Daily Change %	-0.32
Today daily open	120.71

Trends
Daily SMA20	120.65
Daily SMA50	119.13
Daily SMA100	119.64
Daily SMA200	122.02

Levels
Previous Daily High	121.12
Previous Daily Low	120.14
Previous Weekly High	121.48
Previous Weekly Low	120.28
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	120.74
Daily Fibonacci 61.8%	120.51
Daily Pivot Point S1	120.19
Daily Pivot Point S2	119.67
Daily Pivot Point S3	119.21
Daily Pivot Point R1	121.17
Daily Pivot Point R2	121.63
Daily Pivot Point R3	122.15

Author

Flavio Tosti

Independent Analyst

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