EUR/JPY Price Analysis: Euro nearing 2020 lows, trading sub-120.00 figure

 

 

EUR/JPY is nearing the 2020 lows while dropping below the 120.00 figure and the main daily simple moving averages (SMAs).

 

 

EUR/JPY is under selling pressure below the main SMAs. The sellers are challenging the 119.92 support and January lows. A daily break below this level would be seen as a bearish continuation which could lead towards the 119.67 and 119.20 price levels, according to the Technical Confluences Indicator. Resistances are seen near the 120.42, 120.55 and 121.00 levels.