EUR/JPY Continues To Hold And Trade Above Key Support Zone

Forex Trades • Apr 22, 2020 at 4:05 PM EDT

EUR/JPY continues to hold and trade above its key support located at the 116.21/11 zone. On the downside, support comes in at the 116.21 level where a break if seen will aim at the 115.50 level.

EUR/JPY continues to hold and trade above its key support located at the 116.21/11 zone. On the downside, support comes in at the 116.21 level where a break if seen will aim at the 115.50 level. A cut through here will turn focus to the 115.00 level and possibly lower towards the 114.50 level. On the upside, resistance resides at the 116.50 level. Further out, we envisage a possible move towards the 117.00 level.

Further out, resistance resides at the 117.50 level with a turn above here aiming at the 118.00 level. On the whole, EUR/JPY continues to retain its downside pressure but remains above its key support.

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