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  • EUR/JPY bear trend remains intact close to 2020 lows.
  • The level to beat for sellers is the 117.50 support.

EUR/JPY daily chart

EUR/JPY is consolidating the recent bear leg near the 2020 lows as the quote is trading below its main daily SMAs (simple moving averages) suggesting an overall downward momentum for the currency cross.

EUR/JPY four-hour chart

Euro/Yen is trading below the main SMAs on the four-hour time frame suggesting a negative bias in the medium term as bears remain in control as a successful break below 117.50 could introduce scope to further declines towards the 116.10 and 115.50 levels while resistance can emerge near 118.00 and 118.75 levels on the way up. 

Additional key levels