28 Nov 2019
EUR/JPY Technical Analysis: Euro clings to weekly highs against Yen
- EUR/JPY is trading above the 120.50 level in the New York session.
- Resistance is seen at the 121.33 resistance level.
EUR/JPY daily chart
EUR/JPY is trading in a downtrend below the 200-day simple moving average (DMA). However, the spot is consolidating the October’s rally while staying above the 120.00 handle and the 50/100 DMAs.
EUR/JPY four-hour chart
The market is grinding up nearing the 120.80 resistance while trading above the main SMAs. As the market is gaining strength, the buyers could lift the cross towards the 121.33 resistance level, according to Technical Confluences Indicator.
EUR/JPY 30-minute chart
The cross is climbing above the main SMAs, suggesting a bullish momentum in the near term. Support is seen at the 120.43 and 120.05 price levels, according to Technical Confluences Indicator.
Additional key levels