Home EUR/JPY London Price Forecast: Euro vulnerable below 122.10 level vs. yen
FXStreet News

EUR/JPY London Price Forecast: Euro vulnerable below 122.10 level vs. yen

FX Street
Published date:
  • EUR/JPY wedge pattern can lead to further losses. 
  • The level to beat for bears is the 122.10 support.

 

EUR/JPY daily chart

 

After Friday’s bearish candle, the spot is starting the week near its lowest in the last four trading sessions just above the 122.00 handle. 

EUR/JPY four-hour chart

 

The spot broke a wedge formation to the downside while challenging the 122.10 support and the 50-period simple moving average (SMA) on the four-hour chart. In the event bulls fail to regain the 122.42 resistance, the market is set to trade sideways to down with a potential bearish break below the 122.10 which can lead to 121.78 and 121.28 levels, according to the Technical Confluences Indicator.

Additional key level

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026