EUR/JPY Price Analysis: Euro prints fresh 2020 lows vs. Japanese yen

 

 

EUR/JPY remains under bearish pressure below its main SMAs (simple moving averages) on the daily chart as the currency cross is printing fresh 2020 lows this Friday hitting the 115.54 level intraday. 

 

 

EUR/JPY is trading below its main SMAs on the four-hour time frame suggesting a bearish bias in the medium term. The spot is challenging the 116.05 support level after a small bounce. A daily close below the level should lead to further losses towards the 115.50 and 114.50 levels. On the flip side, resistance can emerge near 116.50, 117.00 and 117.50 levels.