EUR/JPY Technical Analysis: extra consolidation looks likely in the near term

EUR/JPY has eroded part of Monday’s advance and it has returned to sub-121.00 levels today and it is at the same time flirting with the 10-day SMA.
Immediately to the upside aligns the mid-121.00s, where are located recent tops. A breakout of this area of resistance should pave the way for a visit to the key 200-day SMA at 122.14.
The resumption of the selling bias should meet strong support in the 120.00 neighbourhood ahead of the 100-day SMA near 119.70.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	120.69
Today Daily Change	46
Today Daily Change %	-0.19
Today daily open	120.92

Trends
Daily SMA20	119.39
Daily SMA50	118.64
Daily SMA100	119.72
Daily SMA200	122.18

Levels
Previous Daily High	121.01
Previous Daily Low	120.41
Previous Weekly High	121.48
Previous Weekly Low	120.34
Previous Monthly High	120.01
Previous Monthly Low	115.86
Daily Fibonacci 38.2%	120.78
Daily Fibonacci 61.8%	120.64
Daily Pivot Point S1	120.55
Daily Pivot Point S2	120.18
Daily Pivot Point S3	119.95
Daily Pivot Point R1	121.15
Daily Pivot Point R2	121.38
Daily Pivot Point R3	121.75

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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