EUR/JPY Technical Analysis: Further rangebound looks likely near term

EUR/JPY is prolonging the sideline theme in the upper-120.00s always on the back of the persistent selling mood surrounding both the Japanese yen and the single currency.
The cross needs to break above the mid-121.00s to allow a visit to the 122.00 neighbourhood, where is located the critical 200-day SMA.
On the other hand, the 120.00 area is expected to hold occasional pullbacks. This area of contention is reinforced by the 100-day SMA at 119.62.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	120.78
Today Daily Change	27
Today Daily Change %	0.06
Today daily open	120.71

Trends
Daily SMA20	120.65
Daily SMA50	119.13
Daily SMA100	119.64
Daily SMA200	122.02

Levels
Previous Daily High	121.12
Previous Daily Low	120.14
Previous Weekly High	121.48
Previous Weekly Low	120.28
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	120.74
Daily Fibonacci 61.8%	120.51
Daily Pivot Point S1	120.19
Daily Pivot Point S2	119.67
Daily Pivot Point S3	119.21
Daily Pivot Point R1	121.17
Daily Pivot Point R2	121.63
Daily Pivot Point R3	122.15

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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