- EUR/JPY is on the rise trading trading at three-week’s high.
- The level to beat for buyers is the 121.40 resistance.
EUR/JPY daily chart
EUR/JPY is reversing up sharply from four-month lows while trading above the main daily simple moving averages (SMAs).
EUR/JPY four-hour chart
The spot reversed up sharply from the 2020 lows and is now challenging the 121.40 resistance while trading above the main SMAs on the four-hour chart. Bulls are in control and a break above the above-mentioned level can lead to further upside towards the 121.74 and 122.20 levels. On the flip side, a pullback down can find support near the 121.00 and 120.47 levels, according to the Technical Confluences Indicator.
Resistance: 121.40, 121.74, 122.20
Support: 121.00, 120.47, 120.00
Additional key levels
Share
