EUR/JPY Price Analysis: Euro trades near session’s lows vs. yen, sub-121.00 figure

 

 

EUR/JPY is rejecting the 121.00 figure and the 50-day simple moving average (SMA). The market remains vulnerable to the downside. 

 

 

EUR/JPY correction found resistance near the 121.00 figure while below the 100/200 SMAs on the four-hour chart. Bears want a break below the 120.51 support for a potential continuation down towards the 120.10 and 119.80 levels, according to the Technical Confluences Indicator.