The EUR/JPY is trading sideways below the bearish trendline resistance of 120.400 as the fundamentals from European and Japanese economy remains mixed. 

The currency markets and global equities were still unsure about the fate of the Phase-one Trade Deal because of the bills passed by the US Senate in support of Hong Kong protestors and against China on its human rights policies.


The EUR/JPY continues trading sideways around 120.100, holding below the downward trendline resistance level of 120.450. The 50 periods EMA seems neutral as we can see many candles closing above and below this.


On the 240 minutes chart, the pair has closed several doji and spinning top patterns below 120.450 resistance area, which are suggesting selling bias in EUR/JPY. The bearish breakout 120.07 support can trigger sell-off until 119.400 level.

EUR/JPY - Trade Setup 

Sell Limit 120.450
Take Profit 119.600
Stop Loss 120.75



Try Secure Leveraged Trading with EagleFX!

Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD slips back to low ground amid coronavirus concerns

EUR/USD is trading closer to 1.08 coronavirus headlines are weighing heavily on the market. The US dollar remains bid despite falling US yields.  Earlier, the German IFO Business Climate beat with 96.1.


GBP/USD dips below 1.29 on USD strength

GBP/USD has dipped below 1.29 as the dollar gains ground amid coronavirus headlines. The EU and the UK prepare for formal post-Brexit due to talks kicking off next week. 


Crypto market consolidates prices while crushing traders' emotions

Top 3 prices remain in range and contradict indicators pointing south. Mild "fear" sentiment is inconsistent with prices in the upper range of the upward movement. XRP may be the surprise of the week and bounce upwards for technical reasons.

Read more

Gold hits fresh multi-year tops, eyeing $1700 mark

Gold continues scaling higher amid a fresh wave of the global risk-aversion trade. Heightened fears about the economic impact of the deadly coronavirus rattled investors. Absent relevant economic data is unlikely to hinder the ongoing strong move up.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors