EUR/JPY Technical Analysis: Recovery could extend to 121.50 and beyond

EUR/JPY has reversed Wednesday’s moderate pullback and it has now regained the 121.00 neighbourhood on he back of renewed selling pressure around the yen.
A convincing break above the mid-121.00s is needed to allow the cross to visit the 122.00 neighbourhood, where is located the critical 200-day SMA.
On the other hand, the 120.30 region is expected to hold occasional bearish attempts. This area of contention is reinforced by the 21-day SMA at 120.57.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	121.07
Today Daily Change	98
Today Daily Change %	0.40
Today daily open	120.59

Trends
Daily SMA20	120.55
Daily SMA50	119.07
Daily SMA100	119.65
Daily SMA200	122.04

Levels
Previous Daily High	120.98
Previous Daily Low	120.46
Previous Weekly High	121.48
Previous Weekly Low	120.28
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	120.66
Daily Fibonacci 61.8%	120.78
Daily Pivot Point S1	120.38
Daily Pivot Point S2	120.17
Daily Pivot Point S3	119.87
Daily Pivot Point R1	120.89
Daily Pivot Point R2	121.19
Daily Pivot Point R3	121.4

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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