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EUR/JPY Price Analysis: Euro challenging October highs and 200 DMA

  • EUR/JPY is clinging to weekly gains while challenging the October highs and the 200 DMA.
  • The level to beat for bulls is the 121.57/70 resistance zone. 
 

EUR/JPY daily chart

 
EUR/JPY is challenging the October highs and the 200-day simple moving average (DMA) as the bulls are taking control.
 

EUR/JPY four-hour chart

 
The market is challenging an important resistance zone in the 121.57/70 area, according to the Technical Confluences Indicator. If the buyers manage to break above it, the spot can spike to the 122.45 level. 
    

EUR/JPY 30-minute chart

 
EUR/JPY is clinging to weekly gains while trading above the main SMAs. Support is seen at the  121.32, 121.06 and 120.81 price levels.
 

Additional key levels

 

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