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EUR/JPY Asia Price Forecast: Euro under pressure below 120.00 figure vs. Japanse yen

  • EUR/JPY is back into familiar territories after dropping from the March’s highs.
  • The level to beat for bears is the 118.75 support.
 

EUR/JPY daily chart

 
EUR/JPY is easing further from March’s highs while trading below the 120.00 handle and the 200 SMAs on the daily chart.
 

EUR/JPY four-hour chart

 
Euro/Yen exchange rate is consolidating losses below the 119.50 figure and the 50/200SMAs on the four-hour chart. The spot is set to break below the 118.75 level en route to 118.00 and 117.50 level while 119.50, 119.90 and 120.25 can act as resistances. 
 

Additional key levels

 

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