News

EUR/JPY Technical Analysis: Euro sidelined against yen, trades near 120.15 level

  • This week, EUR/JPY is trading sideways near the 120.00 handle
  • The level to beat for sellers is the 119.80 level.
 
 

EUR/JPY daily chart

 
EUR/JPY is trading in a bear trend below its 200-day simple moving average (DMA). The market is currently in correction mode after the October bull run as the spot stays limited below the 121.00 handle.
 

EUR/JPY four-hour chart

 
 
On the four-hour chart, the market is trading below the 120.46/64 resistance and the 100/200 SMAs. A break below 119.80 can lead to the 119.42 support level, according to Technical Confluences Indicator.  
 

EUR/JPY 30-minute chart

 
The market is ranging this week with the price currently hovering near the 121.15 support level and below the main SMAs. 
 
 

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.