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EUR/JPY Price Analysis: Euro trades near session’s lows vs. yen, sub-121.00 figure

  • EUR/JPY correction up found resistance near the 121.00 level. 
  • The level to beat for sellers is the 120.51 support. 

EUR/JPY daily chart

EUR/JPY is rejecting the 121.00 figure and the 50-day simple moving average (SMA). The market remains vulnerable to the downside. 

EUR/JPY four-hour chart

EUR/JPY correction found resistance near the 121.00 figure while below the 100/200 SMAs on the four-hour chart. Bears want a break below the 120.51 support for a potential continuation down 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

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