Home EUR/JPY Price Analysis: Euro pressuring the 121.63 resistance vs. yen
FXStreet News

EUR/JPY Price Analysis: Euro pressuring the 121.63 resistance vs. yen

FX Street
Published date:
  • EUR/JPY correction up is gaining steam as the market challenges the 121.63 resistance. 
  • Resistances are seen near 122.12 and 122.63 resistances.
 

EUR/JPY daily chart

 
EUR/JPY created a head-and-shoulders pattern while trading above the 121.00 handle and the main simple moving averages (SMAs).
 

EUR/JPY four-hour chart

 
The market formed a base above the 120.00 handle as the spot is breaking above the trendline and challenging the 121.62 resistance. If bulls clear this level, the market can continue its ascent to the 122.12 and 122.63 resistances. Support is seen near 121.11, 120.73, 120.40 and the 120.00 handle, according to the Technical Confluences Indicator. 
    

Additional key levels

 

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