EUR/JPY Technical Analysis: Recovery stays firm. Next target at the 55-day SMA at 119.78

The recovery in EUR/JPY has already left behind the 10-day SMA and the 21-day SMA at 117.33 and 117.72, respectively.
The continuation of the up move could well see the key 55-day SMA at 119.78 re-tested. This important area of resistance is also reinforced by the multi-month resistance line at 120.29.
On the downside, the 10-day SMA should offer interim support ahead of 2019 lows in the 115.80 region.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	118.18
Today Daily Change	33
Today Daily Change %	0.14
Today daily open	118.02

Trends
Daily SMA20	117.72
Daily SMA50	119.63
Daily SMA100	121.3
Daily SMA200	123.52

Levels
Previous Daily High	118.62
Previous Daily Low	117.26
Previous Weekly High	118.2
Previous Weekly Low	116.57
Previous Monthly High	120.72
Previous Monthly Low	116.57
Daily Fibonacci 38.2%	118.1
Daily Fibonacci 61.8%	117.78
Daily Pivot Point S1	117.32
Daily Pivot Point S2	116.62
Daily Pivot Point S3	115.97
Daily Pivot Point R1	118.67
Daily Pivot Point R2	119.32
Daily Pivot Point R3	120.02

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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