The 4-hour chart of the EUR/JPY confirms the negative sentiment in the price movement as the currency pair is making successively lower tops and lower bottoms.
By applying Oscillators Analysis, all three indicators confirm the negative bias in the market. As the chart shows, price is below the 200-period . The (Moving Average Convergence/Divergence) is recording values below the zero-line which shows negative sentiment in the EUR/JPY . ( ) showing values below 50 which supports the sentiment.
In alternative scenario, key lies at 119.622. Bulls must break this level in order to regain sentiment in the market.
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