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  • EUR/JPY bearish momentum remains intact near 2020 lows.
  • The level to beat for bears is the 116.90 support.
 

EUR/JPY daily chart

 
EUR/JPY is consolidating the recent slide near the 2020 lows as the spot is trading below the main daily SMAs suggesting an overall negative momentum for the currency cross.
 

EUR/JPY four-hour chart

 
Euro/Yen broke below 117.50, which became resistance as the quote is trading below its main SMAs on the four-hour time frame suggesting a bearish bias in the medium term. Bears remain firmly in control as a successful break below 116.90 should introduce scope to further declines towards the 116.10 and 115.50 levels while resistance can emerge near 117.50, 118.00 and 118.75 levels on the way up. 
  

Additional key levels