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EUR/JPY Price Analysis: Euro fades 121.00 figure vs. yen

  • EUR/JPY correction up is finding some resistance near the 121.00 level. 
  • The level to beat for bears is the 120.51 support. 

 

EUR/JPY daily chart

 
EUR/JPY is fading the 121.00 figure while below the 50-day simple moving average (SMA).  
 

EUR/JPY four-hour chart

 
EUR/JPY correction is finding some resistance near the 121.00 figure and below the 100/200 SMAs on the four-hour chart. If the sellers bring the market back below the 120.51 support, the market could resume declining towards the 120.10 and 119.80 levels, according to the Technical Confluences Indicator. 
  
 
Resistance: 121.00, 121.27, 121.70
Support: 120.51, 120.10, 119.80
 
 

Additional key levels

 

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