EUR/JPY chart - Trading View
EUR/JPY dives over 4% to hit session lows at 117.95 before paring some losses to trade at 118.07 at around 09:55 GMT.
The single currency losing upside momentum, final March CPIs in Euroland, German IFO take center stage this week.
On the other side, reviving safe-haven demand amid persistent worries over the economic fallout from the coronavirus pandemic underpinned the JPY.
The pair looks set for downside resumption after rejection at 21-EMA, technical bias is also turning bearish.
RSI is turning south and holds below 50 mark. Stochastics are turning south. Price action has broken below 5-DMA.
Major trend in the pair is bearish and minor trend is turning bearish after 'Doji' formation in previous session's trade.
The pair currently holds strong support at 200H MA at 117.93. Break below will see further weakness.
Retrace above 5-DMA negates any bearish bias. Next major resistance lies at 55-EMA at 119.22.
Support levels - 117.93 (200H MA), 117, 116.52 (Lower BB)
Resistance levels - 118.33 (5-DMA), 118.57 (21-EMA), 119


US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
FxWirePro- Major Crypto levels and bias summary
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/NZD remains weak, eyes 2.2550 level
FxWirePro: GBP/AUD extends losses after RBA rate hike
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
FxWirePro: EUR/AUD bearish as RBA hike boosts Australian dollar
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 



