- EUR/JPY remains under bearish pressure on the third day of the week.
- The level to beat for sellers is the 116.50 support.
EUR/JPY daily chart
EUR/JPY remains under bearish pressure below its main SMAs (simple moving averages) on the daily chart as the currency cross is trading at a stone’s throw from the 2020 low currently located at the 116.12 level.
EUR/JPY four-hour chart
EUR/JPY is trading below the main SMAs on the four-hour time frame suggesting a negative bias in the medium term. The spot is nearing the 116.50 support level and a daily close below it could lead to further weakness towards the 116.00 and 115.45 price levels. Conversely, resistance can be seen near the 117.00 and 117.50 levels.
Additional key levels
Share
