EUR/JPY Technical Analysis: Flirting with the 21-day SMA near 120.50


  • The weekly sideline theme in EUR/JPY remains unchanged so far.
  • The resumption of the selling pressure should target monthly lows near 119.20.

The price action in EUR/JPY continues to struggle with the 21-day SMA in the vicinity of 120.50.

The persistent inability of the cross to surpass this key barrier has sparked the ongoing consolidative phase, always on the back of developments from the US-China trade front.

The resumption of the downside pressure is expected to meet initial support in the 119.50/24 band, where converge the 100-day and 55-day SMAs as well as monthly lows recorded on November 14th.

In order to alleviate the immediate downside pressure, the cross needs to overcome weekly highs around 120.50, ideally in the short-term horizon.

EUR/JPY

Overview
Today last price 120.36
Today Daily Change 50
Today Daily Change % 0.11
Today daily open 120.23
 
Trends
Daily SMA20 120.48
Daily SMA50 119.57
Daily SMA100 119.46
Daily SMA200 121.8
 
Levels
Previous Daily High 120.42
Previous Daily Low 119.84
Previous Weekly High 120.65
Previous Weekly Low 119.24
Previous Monthly High 121.48
Previous Monthly Low 117.07
Daily Fibonacci 38.2% 120.06
Daily Fibonacci 61.8% 120.2
Daily Pivot Point S1 119.91
Daily Pivot Point S2 119.59
Daily Pivot Point S3 119.34
Daily Pivot Point R1 120.48
Daily Pivot Point R2 120.73
Daily Pivot Point R3 121.05

 

 

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