Back
1 May 2020
EUR/JPY Price Analysis: Euro takes a breather below 117.50 resistance
- EUR/JPY consolidates the sharp advance made this Thursday after the ECB.
- More consolidation is likely below the 117.50 resistance.
EUR/JPY four-hour chart
Euro/Yen turned higher after the ECB press conference this Thursday. The spot is consolidating the advance below the 200 SMA and the 117.75 resistance level. A daily close above this barrier is necessary for the quote to potentially build on the recent recovery. On the flip side, the underlying trend remains negative for EU/JPY a daily drop below the 117.00 figure can attract further selling to lower levels.
Resistance: 117.50, 118.50, 119.60
Support: 117.00, 116.50, 116.00
Additional key levels