EUR/JPY Technical Analysis: Focus has re-shifted to the 122.00 area in the near term

The cross remains under downside pressure and is attempting a sideline theme in the lower end of the range, all against the backdrop of the sharp decline in place since mid-April.
A test of recent lows at the 122.00 neighbourhood and probably below remains well on the cards as long as the multi-month resistance line, today at 125.92, caps the upside.
Bouts of buying interest should meet interim resistance at the 10-day SMA at 123.07 ahead of 123.61 (high May 10).

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	122.65
Today Daily Change	53
Today Daily Change %	-0.09
Today daily open	122.76

Trends
Daily SMA20	124.17
Daily SMA50	124.95
Daily SMA100	125.01
Daily SMA200	127

Levels
Previous Daily High	122.97
Previous Daily Low	122.54
Previous Weekly High	124.33
Previous Weekly Low	122.48
Previous Monthly High	126.86
Previous Monthly Low	124.04
Daily Fibonacci 38.2%	122.81
Daily Fibonacci 61.8%	122.7
Daily Pivot Point S1	122.54
Daily Pivot Point S2	122.33
Daily Pivot Point S3	122.11
Daily Pivot Point R1	122.97
Daily Pivot Point R2	123.19
Daily Pivot Point R3	123.4

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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