EUR/JPY Technical Analysis: Euro pressuring weekly lows against Japanese yen, sub-120.00 handle

EUR/JPY is ending the week on its low tick.
The level to beat for bears is the 119.80 level.

EUR/JPY daily chart

EUR/JPY is trading in a downtrend below the 200-day simple moving average (DMA). The market is currently correcting the October bull run as the spot stays limited by the 121.00 handle.

EUR/JPY four-hour chart

On the four-hour chart, the market is challenging the 119.80 level while below the main SMAs. A daily break below 119.80 can lead to the 119.42 support level, according to Technical Confluences Indicator.

EUR/JPY 30-minute chart

The market is ending the week near the weekly lows while below the main SMAs. Resistance is seen at the 120.15 and 120.45 levels.

Additional key levels

Nov 22, 2019

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