EUR/JPY Technical Analysis: Euro under pressure against Yen, trading sub-119.45 level

EUR/JPY is retracing down after the October bull run.
The level to beat for sellers is the 119.10 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 market is correcting down after the October bull run as the price is challenging the 50 and 100 DMA near the 119.43 level.

EUR/JPY four-hour chart

On the four-hour chart, the market broke below the 119.45 support and the 200 SMA, suggesting that the market is becoming weak. As the spot broke below 119.45, the market could continue to decline further towards the 119.10 and 118.77 support levels.

EUR/JPY 30-minute chart

The market is under pressure below the main SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 119.45, 119.80 and 120.15 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/JPY

Overview
Today last price	119.4
Today Daily Change	-0.34
Today Daily Change %	-0.28
Today daily open	119.74

Trends
Daily SMA20	120.68
Daily SMA50	119.4
Daily SMA100	119.56
Daily SMA200	121.91

Levels
Previous Daily High	120.19
Previous Daily Low	119.58
Previous Weekly High	121.31
Previous Weekly Low	120.14
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	119.81
Daily Fibonacci 61.8%	119.96
Daily Pivot Point S1	119.48
Daily Pivot Point S2	119.22
Daily Pivot Point S3	118.86
Daily Pivot Point R1	120.09
Daily Pivot Point R2	120.45
Daily Pivot Point R3	120.71

Author

Flavio Tosti

Independent Analyst

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