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EUR/JPY Price Analysis: Euro easing from May’s highs, trades near 117.00 figure

  • EUR/JPY is losing steam at the end of the trading week.
  • Support can be seen in the 117.25/117.20 price zone.  
 

EUR/JPY four-hour chart

 
EUR/JPY is easing from the May’s highs while trading above its main SMAs on the four chart. The spot has lost some bullish steam as it is challenging the 117.25/117.00 support zone. As the market remains fragile a break below this point can lead to further declines towards the 116.40 level. On the other hand, bulls need to regain the 118.00 level initially.  
 
 
 
Resistance: 118.00 118.75, 119.00
Support: 117.25, 117.00, 116.40
 

Additional key levels

 

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