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7 Feb 2020
EUR/JPY Price Analysis: Euro approaching three-day lows vs. yen
- EUR/JPY remains under selling pressure into the end of the trading week.
- The level to beat for sellers is the 119.90 support.
EUR/JPY daily chart
EUR/JPY is fading the 121.00 figure and the main daily simple moving average (SMA). The spot is vulnerable to the downside.
EUR/JPY four-hour chart
The EUR/JPY correction found resistance near the 121.00 figure as the spot is now trading below the main SMAs on the four-hour chart. Bears want a break below the 119.90 support for a potential bearish extention down towards the 119.43 and 119.06 levels, according to the Technical Confluences Indicator.
Resistance: 120.56, 121.00, 121.27
Support: 119.90, 119.43, 119.06
Additional key levels