EUR/JPY Technical Analysis: Flirting with the short-term support line near 122.20

EUR/JPY is now facing some downside pressure following yesterday’s rejection from the so far weekly highs in the mid-122.00s.
The cross is eroding the key support-line in the 122.20 region amidst today’s negative price action, reversing at the same time the upside momentum after Friday’s bullish ‘outside day’. Interim support is located in the 121.81/88 band, where coincide the 10-day and 100-day SMAs.
Ideally, EUR/JPY needs to clear the short-term resistance line at 122.22 in order to alleviate the current downside pressure and attempt a test of the 123.00 handle and beyond.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	121.86
Today Daily Change	64
Today Daily Change %	-0.36
Today daily open	122.3

Trends
Daily SMA20	121.93
Daily SMA50	123.2
Daily SMA100	124.33
Daily SMA200	126.14

Levels
Previous Daily High	122.4
Previous Daily Low	121.99
Previous Weekly High	122.13
Previous Weekly Low	120.94
Previous Monthly High	125.24
Previous Monthly Low	120.92
Daily Fibonacci 38.2%	122.25
Daily Fibonacci 61.8%	122.15
Daily Pivot Point S1	122.06
Daily Pivot Point S2	121.82
Daily Pivot Point S3	121.65
Daily Pivot Point R1	122.48
Daily Pivot Point R2	122.65
Daily Pivot Point R3	122.89

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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