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  • The down move in EUR/JPY appears to have met decent support in the area of 4-week lows near 119.20, where also sits the key 55-day SMA.
  • If this area is cleared, there is no relevant support levels until October lows in the 117.00 neighbourhood ahead of the 2019 low in sub-116.00 levels recorded in early September.
  • Occasional bullish attempts, however, are expected to meet initial resistance in the 120.00 neighbourhood ahead of the 21-day SMA, today at 120.57.

EUR/JPY daily chart