EUR/JPY Price Analysis: Bulls trying to commit, eye break of 150.00
- EUR/JPY bears need to get below the 149.00 area and then 148.70.
- Bulls eye a break of 150.00 and then 150.40.
EUR/JPY has been trying to come up for air since breaking the prior bullish trend´s support line at the start of May´s business. The pair is now battling with resistance again and the following illustrates the prospects of either a bullish continuation or a break to the downside.
EUR/JPY daily chart
The daily chart shows the pair testing trendline support while being on the backside of the prior bullish trend. The 148.70s is key in this regard. To the upside, there are prospects of a break of 149.80 resistance.
EUR/JPY H4 chart
The 4-hour charts show that the bears need to get below the 149.00 area and then 148.70.