EUR/JPY pulls back from 4-month highs

EUR/JPY pulled back from fresh 4-month highs on Wednesday as the yen managed to take back some of its recent losses.

EUR/JPY snapped a three-day winning streak as it turned lower after reaching a peak of 117.47 during the European session. At time of writing, the pair is trading at 116.90, recording a 0.10% loss on the day as it consolidates near daily lows.

EUR/JPY levels to consider

In terms of technical levels, next resistances line up at 117.47 (Nov 16 high), 118.00 (psychological level), 118.45 (Jul 21 high) and 118.90 (200-day SMA). On the flip side, supports are seen at 116.07 (Nov 15 low), 115.82 (10-day SMA) and 115.54 (Nov 14 low).

To learn more about this topic, check our video analysis:

EURJPY from Tip TV Productions on Vimeo.