- EUR/JPY is correcting up but failing above the 116.50 resistance.
- Support can be seen near the 116.00 level.
EUR/JPY four-hour chart
EUR/JPY is trading in a downtrend below the 200 SMAs on the four-hour chart. However, the spot is correcting up near the 116.50 resistance while holding above the 50/100 SMAs. Given that the underlying bias is down, the bears might try to generate an attack soon with a potential break below the 116.00 support en route towards the 115.50 level. On the flip side, resistance can emerge near 116.50 and the 117.00 levels.
Resistance: 116.50, 117.00, 118.00
Support: 116.00, 115.50, 114.50
Additional key levels
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