- EUR / JPY trades from the highs of the session after challenging the level of 117.00.
- The level to beat for bears is the support of 116.50.
EUR / JPY four-hour chart
EUR / JPY reacts up to 117.00 while the market is trading above the main SMAs on the four-hour chart. However, since the overall bias is decreasing, this rebound may soon fade, as the bears are looking for a break below the 116.50 support. On the other hand, strong resistance is expected near the figure of 117.00 while higher is the level of 117.90 which should also play the role of resistance.
Resistance: 117.00, 117.90, 118.70
Support: 116.50, 116.00, 115.50