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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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