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EUR/JPY Technical Analysis: Top forming near 121.00 handle

Written by By Flavio Tosti | 2019-12-02 18:40:42 GMT
  • EUR/JPY might be trading at a crossroad near the 121.00 handle.
  • The level to beat for bears is the 120.45 support. 
 

EUR/JPY daily chart

 
EUR/JPY is trading in a bear trend below its 200-day simple moving average (DMA). However, the spot has been in correction mode below the 121.00 handle in the last months of trading. 
 

EUR/JPY four-hour chart

 
The market is rejecting the 120.80 resistance while trading above the main SMAs. However, the lack of bullish enthusiasm near this key level suggests that the market might be at a crossroad. If the sellers launch an attack and break 120.45 support, the market is likely to revisit the 120.00 handle and 119.70 level in the medium term, according to the Technical Confluences Indicator
 

EUR/JPY 30-minute chart

 
The cross is trading above the 100 and 200 SMAs, suggesting a bullish momentum in the near term. However, bulls will need to drive the market above the 121.08 level on a daily basis to reach 121.33 resistance, according to Technical Confluences Indicator.
 

Additional key levels

EUR/JPY

Overview
Today last price 120.72
Today Daily Change 0.14
Today Daily Change % 0.12
Today daily open 120.58
 
Trends
Daily SMA20 120.29
Daily SMA50 119.7
Daily SMA100 119.34
Daily SMA200 121.62
 
Levels
Previous Daily High 120.77
Previous Daily Low 120.4
Previous Weekly High 120.77
Previous Weekly Low 119.68
Previous Monthly High 121.31
Previous Monthly Low 119.24
Daily Fibonacci 38.2% 120.63
Daily Fibonacci 61.8% 120.54
Daily Pivot Point S1 120.4
Daily Pivot Point S2 120.22
Daily Pivot Point S3 120.03
Daily Pivot Point R1 120.77
Daily Pivot Point R2 120.95
Daily Pivot Point R3 121.14

 

 

Author

By Flavio Tosti

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