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EUR/JPY Price Analysis: Euro nearing 2020 lows, trading sub-120.00 figure

  • EUR/JPY is under heavy selling pressure challenging the 2020 lows. 
  • The level to beat for bears is the 119.92 support. 

EUR/JPY daily chart

EUR/JPY is nearing the 2020 lows while dropping below the 120.00 figure and the main daily simple moving averages (SMAs).

EUR/JPY four-hour chart

EUR/JPY is under selling pressure below the main SMAs. The sellers are challenging the 119.92 support and January lows. A daily break below this level would be seen as a bearish continuation which could lead towards the 119.67 and 119.20 price levels, according to the Technical Confluences Indicator. Resistances are seen near the 120.42, 120.55 and 121.00 levels. 
Resistance: 120.42, 120.55, 121.00
Support: 119.92, 119.67, 119.20

Additional key levels


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