- EUR/JPY remains week at the start of the trading week.
- The level to beat for bears is the 117.25/117.20 price zone.
EUR/JPY four-hour chart
EUR/JPY retraced from the May’s highs while trading above the main SMAs on the four-hour chart. The spot lost some bullish momentum as it is challenging the 117.25/117.00 support zone. As the spot remains fragile within an overall bear trend, a break below the mentioned levels can lead to further weakness towards the 116.40 level. On the flip side, occasional bullish attempts should find resistance near the 118.00 level initially.
Resistance: 118.00 118.75, 119.00
Support: 117.25, 117.00, 116.40
Additional key levels