EUR/JPY: Remains bearish underneath the SMA of 200 days

The EUR/JPY is showing signs of life after the new 2020 low was formed at the beginning of the week at 119.70/65. The bearish stance remains intact as long as the 200-day SMA, which stands at 120.52 today, limits what is happening. A move to the November low of 119.25 cannot be ruled out in the short term.

Technical Levels

S1 119.52
S2 119.27
S3 118.86

R1 120.18
R2 120.59
R3 120.84