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  • EUR/JPY is correcting down following the October bull rally.  
  • The level to beat for bears is the 119.45 level.


EUR/JPY daily chart

EUR/JPY is trading in a downtrend below the 200-day simple moving average (DMA). The market is correcting down after the October bull run as the price is challenging the 100 DMA near the 119.55 level.

EUR/JPY four-hour chart

On the four-hour chart, the market broke below the 119.80 support and the 200 SMA, suggesting that the market is weakening considerably. The level to beat for sellers become the 119.45 level which can trigger further weakness towards the 119.10 and 118.77 support levels.

EUR/JPY 30-minute chart

The market is trading below the main SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 119.80 and 120.15 levels, according to the Technical Confluences Indicator.  

Additional key levels