- EUR/JPY consolidates near the 120.00 figure.
- The level to beat for buyers is the 120.32/57 resistance zone.
EUR/JPY daily chart
EUR/JPY reversed up sharply from four-month lows while trading just below the main daily simple moving averages (SMAs).
EUR/JPY four-hour chart
EUR/JPY is in consolidation mode above the 50 and 100 SMAs on the four-hour chart. The market seems well-supported in the 119.00/120.00 zone and bulls would gather momentum on a break above the 120.32/57 resistance zone, according to the Technical Confluences Indicator.
Resistance: 120.32, 120.57, 121.00
Support: 119.82, 119.44, 119.07