Trending Underneath the 120.60 Handles, EURJPY Is Stuck Within Tight Trading Range


EURJPY Price Analysis – November 22

The European common currency traded between the range on the level at 120.40 / 120.03 handle versus the Japanese yen during yesterday’s trading session. However, an increased momentum may likely impact the FX pair in the next session. In this scenario, the exchange rate may display a level of psychological barrier on the level at 121.00.

Key Levels
Resistance Levels: 125.23, 123.37, 121.47
Support Levels: 119.24, 117.08, 115.83

EURJPY Long term Trend: Bearish

In the larger image, a medium-term base is structured on the level at 115.83, in conditions of the bullish trendline, ahead of the level at 119.24 support. A decisive break of the level at 120.60 support converted to resistance may affirm this scenario and bring more resistance to the fall from the high (now at 125.23).

The reactions from there would determine if the long-term trend has reversed. At this moment, an additional increase is expected as long as the support of the level at 117.08 is maintained.

EURJPY Short term Trend: Bearish

The intraday bias in EURJPY stays neutral at the moment. As long as the support on the level at 119.24 is maintained, the outlook remains cautiously bullish and a further increase is in favor.

On the upper side, on the level at 120.60 will point to a test on the level at 121.47, the break of the resistance further may resume the full increase from the level at 115.83 and will aim at the level at 125.23 structural resistance zone.

Instrument: EURJPY
Order: Sell
Entry price: 119.78
Stop: 121.47
Target: 117.08

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.