EUR/JPY Price Analysis: Euro stays fragile below the 118.00 figure vs. yen

 

 

EUR/JPY retraced from the May’s highs while trading above the main SMAs on the four-hour chart. The spot lost some bullish momentum as it is challenging the 117.25/117.00 support zone. As the spot remains fragile within an overall bear trend, a break below the mentioned levels can lead to further weakness towards the 116.40 level. On the flip side, occasional bullish attempts should find resistance near the 118.00 level initially.