EUR/JPY Technical Analysis: Upside met tough barrier at the resistance line near 120.00

EUR/JPY is seeing some correction lower following Friday’s tops in the 120.00 neighbourhood, where sits the key multi-month resistance line.
The continuation of t he leg lower should see meet interim support at the 10-day SMA at 118.40 ahead of the 21-day SMA at 117.96.
On the opposite direction, if bulls regain the upper hand, the next relevant hurdle comes in at 120.85, the 100-day SMA.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	119.4
Today Daily Change	55
Today Daily Change %	-0.25
Today daily open	119.7

Trends
Daily SMA20	117.91
Daily SMA50	119.26
Daily SMA100	120.92
Daily SMA200	123.23

Levels
Previous Daily High	120.01
Previous Daily Low	119.31
Previous Weekly High	120.01
Previous Weekly Low	117.54
Previous Monthly High	120.72
Previous Monthly Low	116.57
Daily Fibonacci 38.2%	119.74
Daily Fibonacci 61.8%	119.58
Daily Pivot Point S1	119.33
Daily Pivot Point S2	118.97
Daily Pivot Point S3	118.62
Daily Pivot Point R1	120.04
Daily Pivot Point R2	120.38
Daily Pivot Point R3	120.74

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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