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17 Mar 2020
EUR/JPY Price Analysis: Euro choppy vs. yen, trades near 118.50 level
- EUR/JPY stays in ranges in the 117-119 zone.
- EUR/JPY is challenging the 118.31 resistance.
EUR/JPY daily chart
EUR/JPY is trading below its main daily SMAs suggesting a bearish momentum in the medium term. The spot remains under mild bearish pressure below the 120.00 figure.
EUR/JPY four-hour chart
EUR/JPY remains choppy in the 117-119 range as traders are trying to find a direction for the cross. The quote keeps an underlying downward bias with EUR/JPY trading below the main 100/200 SMAs on the four-hour chart.
Resistance: 118.40, 118.79, 119.30
Support: 117.85, 117.15, 116.40
Additional key levels