- EUR/JPY downward acceleration remains intact as the spot is nearing the 2020 lows.
- The level to beat for sellers is the 116.90 support.
EUR/JPY daily chart
EUR/JPY is falling towards the 2020 lows as the quote is trading below its main daily SMAs suggesting an overall bearish momentum.
EUR/JPY four-hour chart
EUR/JPY broke below the 117.50 level, which turned into resistance as the market is trading below the main SMAs on the four-hour time frame suggesting a negative bias in the medium term. Sellers are firmly in control and a sustained breakdown below the 116.90 support should yield to further losses towards the 116.10 and 115.50 levels. Resistance can be expected near 117.50, 118.00 and 118.75 levels on the way up.
Additional key levels
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