EUR/JPY Technical Analysis: Further downside could see the 120.80 region retested

EUR/JPY is extending the correction lower and is now putting the key support at 122.00 the figure to the test.
The acceleration of the selling impulse carries the potential to drag the cross to recent lows in the 120.80/75 band ahead of YTD lows in sub-119.00 levels (‘flash crash’ in early January).
Furthermore, the negative view on the cross remains unchanged below the multi-month resistance line, today at 125.09.

Pablo Piovano FXStreet

EUR/JPY daiy chart

EUR/JPY

Overview
Today last price	122.05
Today Daily Change	30
Today Daily Change %	-0.13
Today daily open	122.21

Trends
Daily SMA20	122.33
Daily SMA50	123.77
Daily SMA100	124.58
Daily SMA200	126.42

Levels
Previous Daily High	122.57
Previous Daily Low	122.12
Previous Weekly High	122.72
Previous Weekly Low	120.78
Previous Monthly High	125.24
Previous Monthly Low	120.92
Daily Fibonacci 38.2%	122.29
Daily Fibonacci 61.8%	122.4
Daily Pivot Point S1	122.03
Daily Pivot Point S2	121.86
Daily Pivot Point S3	121.59
Daily Pivot Point R1	122.48
Daily Pivot Point R2	122.75
Daily Pivot Point R3	122.92

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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