12 Dec 2019
EUR/JPY Price Analysis: Euro challenging October highs and 200 DMA
- EUR/JPY is clinging to weekly gains while challenging the October highs and the 200 DMA.
- The level to beat for bulls is the 121.57/70 resistance zone.
EUR/JPY daily chart
EUR/JPY is challenging the October highs and the 200-day simple moving average (DMA) as the bulls are taking control.
EUR/JPY four-hour chart
The market is challenging an important resistance zone in the 121.57/70 area, according to the Technical Confluences Indicator. If the buyers manage to break above it, the spot can spike to the 122.45 level.
EUR/JPY 30-minute chart
EUR/JPY is clinging to weekly gains while trading above the main SMAs. Support is seen at the 121.32, 121.06 and 120.81 price levels.
Additional key levels