OctaFX | OctaFX Forex Broker
Open trading account
Back

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

 

US: Nonfarm payrolls well above the consensus – TDS

Currency markets have been very well-behaved following the release, although economists at TD Securities do not see a compelling reason that it would
Read more Previous

Gold: Technically bullish

The yellow metal finished the week in the red as US data overshadowed fears but Chief analyst at FXStreet Valeria Bednarik's indicates the bullish tec
Read more Next
Start livechat