EUR/JPY Technical Analysis: Euro pressuring weekly lows against Japanese yen, sub-120.00 handle

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  • EUR/JPY is ending the week on its low tick.
  • The level to beat for bears is the 119.80 level.
 

EUR/JPY daily chart

 
EUR/JPY is trading in a downtrend below the 200-day simple moving average (DMA). The market is currently correcting the October bull run as the spot stays limited by the 121.00 handle.
 

EUR/JPY four-hour chart

 
 
On the four-hour chart, the market is challenging the 119.80 level while below the main SMAs. A daily break below 119.80 can lead to the 119.42 support level, according to Technical Confluences Indicator. 
 

EUR/JPY 30-minute chart

 
The market is ending the week near the weekly lows while below the main SMAs. Resistance is seen at the 120.15 and 120.45 levels.  
 

Additional key levels

 

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