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6 Feb 2020
EUR/JPY Price Analysis: Euro trades near session’s lows vs. yen, sub-121.00 figure
- EUR/JPY correction up found resistance near the 121.00 level.
- The level to beat for sellers is the 120.51 support.
EUR/JPY daily chart
EUR/JPY is rejecting the 121.00 figure and the 50-day simple moving average (SMA). The market remains vulnerable to the downside.
EUR/JPY four-hour chart
EUR/JPY correction found resistance near the 121.00 figure while below the 100/200 SMAs on the four-hour chart. Bears want a break below the 120.51 support for a potential continuation down towards the 120.10 and 119.80 levels, according to the Technical Confluences Indicator.
Resistance: 121.00, 121.27, 121.70
Support: 120.51, 120.10, 119.80
Additional key levels