EUR/JPY Technical Analysis: Negative view unchanged below 120.00

FX Street

Published date: 9 Aug. 2019 | 10:22

EUR/JPY remains under pressure and navigating the area below the 119.00 handle so far on Friday, extending the leg lower after weekly tops just ahead of 120.00 the figure (Tuesday).
While below the immediate resistance line, today ay 120.59, the offered bias is seen intact. This hurdle is also reinforced by the proximity of the 21-day SMA at 120.26 and weekly top at 119.87.
Further downside is expected to initially test YTD lows in the 117.70/65 band (August 5) ahead of April 2017 lows around 114.80.

EUR/JPY daily chart

FX Street

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