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8 May 2020
EUR/JPY Price Analysis: Euro bears taking a breather vs. Japanse yen
- EUR/JPY is correcting up after hitting fresh 2020 lows this week.
- The level to beat for sellers is the 115.45 support.
EUR/JPY four-hour chart
EUR/JPY is trading in a bear trend below the main SMAs on the four-hour chart. However, the spot is correcting up and broke above the 115.45 resistance now turned support. Since the overall bias is bearish the sellers might come back soon with a potential break below the 115.45 level for an initial retest of the 114.50 level. On the flip side, resistance can emerge near 116.00 and 116.50 levels.
Resistance: 116.00, 116.50, 117.00
Support: 115.45, 114.50, 113.50
Additional key levels