EUR/JPY technical analysis: Euro hits three-week lows against Yen, trading near 120.00 handle

EUR/JPY is drifting lower, correcting the October bull rally.
The level to beat for bears is the 119.94/81 support zone.

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 rally to the 121.00 figure. The spot has been entering a consolidation in mid-October and November.

EUR/JPY four-hour chart

On the four-hour chart, the market is drifting down below its 50 and 100 SMAs. A break below 119.94/81 support zone can drive the cross towards the 119.66 and 119.44 in the medium term.

EUR/JPY 30-minute chart

The market is trading below its main SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 119.20, 120.44 and 120.66 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/JPY

Overview
Today last price	119.98
Today Daily Change	-0.33
Today Daily Change %	-0.27
Today daily open	120.31

Trends
Daily SMA20	120.72
Daily SMA50	119.28
Daily SMA100	119.6
Daily SMA200	121.97

Levels
Previous Daily High	120.42
Previous Daily Low	120.06
Previous Weekly High	121.31
Previous Weekly Low	120.14
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	120.2
Daily Fibonacci 61.8%	120.28
Daily Pivot Point S1	120.11
Daily Pivot Point S2	119.9
Daily Pivot Point S3	119.74
Daily Pivot Point R1	120.47
Daily Pivot Point R2	120.63
Daily Pivot Point R3	120.83

Author

Flavio Tosti

Independent Analyst

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