EUR/JPY Price Analysis: Euro pops to 4-day highs vs. Japanese yen

 

EUR/JPY is having a reaction up to the 117.00 figure while the market is trading above the main SMAs on the four-hour chart. However, since the overall bias is down, this bounce might soon get faded with bears looking for a break below the 116.50 support. On the other hand, strong resistance is expected near the 117.00 figure while further up lie the 117.90 level which is likely to act as resistance as well.