Search ForexCrunch
  • EUR/JPY is starting the week with a range below the 120.00 handle.
  • The level to beat for sellers is the 119.80 level.

EUR/JPY daily chart

EUR/JPY is trading in a bear trend below its 200-day simple moving average (DMA). The market is presently correcting the October rally as the spot stays capped by the 121.00 handle.

EUR/JPY four-hour chart

On the four-hour chart, the market is currently supported above the 119.80 level while below the main SMAs. However, a break below 119.80 can send the market down towards the 119.42 support level in the medium term, according to Technical Confluences Indicator.  

EUR/JPY 30-minute chart

The cross is having a mixed session while trading below the 100/200 SMAs. As the outlook is bearish, resistance can be expected at the 120.15 and 120.45 levels.  

Additional key levels