EUR/JPY Technical Analysis: The top is confirmed below the 121.00 handle


  • EUR/JPY rejected the 121.00 handle as the yen is gaining strength.
  • The level to beat for sellers is the 120.30 support. 
 

EUR/JPY daily chart

 
EUR/JPY is trading in a downtrend below the 200-day simple moving average (DMA). However, the spot has been in consolidation below the 121.00 handle in the last weeks of trading. 
 

EUR/JPY four-hour chart

 
As discussed yesterday, the market rejected the 120.80 resistance. A break below the 120.30 support can lead to further weakness towards the 120.00 figure and the 119.70 levels in the medium term, according to the Technical Confluences Indicator
 

 

EUR/JPY 30-minute chart

 
The cross is trading below main SMAs, suggesting a bearish momentum in the near term. Resistance is seen at the 120.45 and 120.80 price levels, according to Technical Confluences Indicator.
 

Additional key levels

EUR/JPY

Overview
Today last price 120.34
Today Daily Change -0.44
Today Daily Change % -0.36
Today daily open 120.78
 
Trends
Daily SMA20 120.28
Daily SMA50 119.75
Daily SMA100 119.34
Daily SMA200 121.6
 
Levels
Previous Daily High 121.02
Previous Daily Low 120.52
Previous Weekly High 120.77
Previous Weekly Low 119.68
Previous Monthly High 121.31
Previous Monthly Low 119.24
Daily Fibonacci 38.2% 120.83
Daily Fibonacci 61.8% 120.71
Daily Pivot Point S1 120.52
Daily Pivot Point S2 120.27
Daily Pivot Point S3 120.02
Daily Pivot Point R1 121.03
Daily Pivot Point R2 121.28
Daily Pivot Point R3 121.53

 

 

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