News

EUR/JPY Asia Price Forecast: Euro bears en route towards March’s lows vs. Japanese yen

  • EUR/JPY bearish acceleration intensifies as the spot is nearing the March’s lows.
  • The level to beat for bears is the 116.90 support.
 

EUR/JPY daily chart

 
EUR/JPY is dropping towards the March’s lows as the spot is trading below the main daily SMAs suggesting an overall bearish bias. 
 

EUR/JPY four-hour chart

 
EUR/JPY broke below the 117.50 level which is now turning resistance as the market is trading below the main SMAS on the four-hour time frame. The bears are in control and a sustained break below the 116.90 support should lead to further weakness towards the 116.10 level and the 115.00 figure while resistance can emerge near the 117.50, 118.00 and 118.75 levels on the way up. 
  

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.