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28 Apr 2020
EUR/JPY Price Analysis: Euro drifts below 116.00 figure vs. Japanese yen
- EUR/JPY stays under bearish pressure vs. Japanse yen on the second day of the trading week.
- The level to beat for bears is the 116.05 support on, a daily closing basis.
EUR/JPY daily chart
EUR/JPY remains under selling pressure below its main SMAs (simple moving averages) on the daily chart as the currency cross is nearing the 2020 low at 115.54.
EUR/JPY four-hour chart
Euro/Yen broke below the 116.05 support as the spot keeps grinding lower while below the main SMAs on the four-hour chart. A daily close below the above-mentioned level should open the gates to further losses towards the 115.50 and 114.50 levels. On the flip side, resistance can emerge near 116.50, 117.00 and 117.50 levels.
Additional key levels