EUR/JPY Price Analysis: Euro trading at a stone’s throw from 2020 lows

 

 

 

EUR/JPY consolidates the bear leg to the 2020 lows as the quote is trading below its main SMAs (simple moving averages) on the daily chart suggesting an overall bearish momentum in the currency cross.

 

 

 

EUR/JPY is trading below the main SMAs on the four-hour time frame suggesting a bearish bias in the medium term. Bears remain in control and a break below the 117.50 level can introduce scope to further losses towards the 116.90 and 116.00 price levels. On the flip side, resistance can emerge near the 118.00 and 118.75 levels.