- EUR/JPY stays in ranges in the 117.50/120.00 zone.
- Resistance is seen at the 120.00 figure.
EUR/JPY daily chart
EUR/JPY is trading below its main daily SMAs suggesting a bearish momentum in the medium term while the market is trying to rebound from the 2020 lows without much conviction.
EUR/JPY four-hour chart
The market remains trapped in the March’s range although bulls are trying to breakout while nearing the 120.00 figure. However, there should be follow-through buying and break above the above-mentioned level to have the confirmation that a trend is actually in place. Until then EUR/JPY is probably bound to remain choppy in the 117.50/120.00 zone.
Resistance: 120.00, 120.90, 12140
Support: 119.00, 118.35, 117.50
Additional key levels
Share
