- EUR/JPY might be trading at a crossroad near the 121.00 handle.
- The level to beat for bears is the 120.45 support.
EUR/JPY daily chart
EUR/JPY is trading in a bear trend below its 200-day simple moving average (DMA). However, the spot has been in correction mode below the 121.00 handle in the last months of trading.
EUR/JPY four-hour chart
EUR/JPY 30-minute chart
The cross is trading above the 100 and 200 SMAs, suggesting a bullish momentum in the near term. However, bulls will need to drive the market above the 121.08 level on a daily basis to reach 121.33 resistance, according to Technical Confluences Indicator.