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27 Apr 2020
EUR/JPY Price Analysis: Euro bears pressuring 116.05 level vs. yen, nearing 2020 lows
- EUR/JPY stays under bearish pressure on the first day of the trading week.
- The level to beat for sellers is the 116.05 support.
EUR/JPY daily chart
EUR/JPY stays under bearish pressure below the main SMAs (simple moving averages) on the daily chart as the currency cross is at a stone’s throw from 2020 lows (at 115.54) this Monday.
EUR/JPY four-hour chart
Euro/Yen is trading below the main SMAs on the four-hour chart suggesting a negative bias in the medium term. The quote is challenging the 116.05 support level yet again after a modest bullish attempt last week. In fact, a daily close below the 116.05 level can lead to further selling towards the 115.50 and 114.50 levels. Conversely, resistance is expected to hold near 116.50, 117.00 and 117.50 levels.
Additional key levels