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27 Feb 2020
EUR/JPY Price Analysis: Euro bulls pressuring the 121.00 figure vs. yen
- EUR/JPY is easing from session’s highs just below the 121.00 figure.
- The level to beat for buyers is the 121.00 resistance.
EUR/JPY daily chart
EUR/JPY reversed up sharply from four-month lows while it is now battling between the main daily simple moving averages (SMAs).
EUR/JPY four-hour chart
EUR/JPY is challenging the 121.00 resistance while above its main SMAs. The bulls are likely looking for a break above the above-mentioned level. The spot could run to the 121.70 and 122.16 resistances on the way up while support is seen near 120.40 and 120.00 levels, according to the Technical Confluences Indicator.
Resistance: 121.00, 121.70, 122.16
Support: 120.40, 120.00, 119.78
Additional key levels