EUR/JPY Price Analysis: Euro bulls pressuring the 121.00 figure vs. yen

 

 

EUR/JPY reversed up sharply from four-month lows while it is now battling between the main daily simple moving averages (SMAs).

 

 

EUR/JPY is challenging the 121.00 resistance while above its main SMAs. The bulls are likely looking for a break above the above-mentioned level. The spot could run to the 121.70 and 122.16 resistances on the way up while support is seen near 120.40 and 120.00 levels, according to the Technical Confluences Indicator.