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  • EUR/JPY consolidates the sharp advance made last Thursday after the ECB. 
  • More downside traction is likely below the 117.00 figure. 

EUR/JPY four-hour chart

Euro/Yen pushed sharply to the upside last week however the market is unable to capitalize on the recent surge and is sliding back below the 117.00 figure. As the overall bias remains negative EUR/JPY is seen sliding as the bears are challenging the 116.50 support level. On the flip side, resistance can be seen near 117.00 and 117.50 levels.  
Resistance: 117.50, 118.50, 119.60
Support: 117.00, 116.50, 116.00 

Additional key levels