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  • EUR/JPY is having a reversal up from four-month lows. 
  • The level to beat for bulls is the 119.50 support.

EUR/JPY daily chart

EUR/JPY is bouncing from four-month lows while trading above the 119.00 level and below the main daily simple moving averages (SMAs).

EUR/JPY four-hour chart

The quote rebounded from the 2020 lows and is now challenging the 119.50 resistance and the 50 SMA on the four-hour chart. Bulls had quite a reversal and the pullback up could accelerate if it finds acceptance above the 119.50 resistance level. A retracement down could find support near the 119.00 and 118.51 support, according to the Technical Confluences Indicator.    
Resistance: 119.50, 119.95, 119.73
Support: 119.00, 118.51, 117.87 

Additional key levels