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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    


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