Home EUR/JPY Price Analysis: Further losses could hit 114.85

EUR/JPY Price Analysis: Further losses could hit 114.85

Published date: 24 Apr. 2020 | 12:57

EUR/JPY clinches new 2020 lows in the mid-115.00s.
The next relevant level on the downside is the 2017 low at 114.85.

EUR/JPY has accelerated the downside after breaking below the 116.00 support, visiting levels last seen in April 2017 in the mid-115.00s.

If the selling bias accelerates, then there are no significant support levels until the 2017 low at 114.85.

Looking at the broader picture, the downside pressure is expected to lose some momentum on a surpass of April tops in the 119.00 neighbourhood.

EUR/JPY monthly chart

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.

View all posts by FX Street

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.