EUR/JPY Price Analysis: Extends losses to two days, diving below 158.00
by Christian Borjon Valencia · FXStreetShare:
- EUR/JPY slips amid a risk-on mood, as it remains below the Ichimoku Cloud
- Further downside is seen below the Tenkan and Kijun Sen levels as the pair aims toward 156.00.
- The EUR/JPY could shift bullish if buyers reclaim 159.00.
The EUR/JPY begins the week on a lower note, posting losses of 0.17% on Monday amid a risk-on impulse. The cross-currency pair's upward move was quickly rejected at a multi-month support trendline turned resistance, opening the door for a pullback. Therefore, the pair is trading at 157.92 as Tuesday’s Asian session begins, almost flat.
The cross-pair base shifted bearish after diving below the Ichimoku Cloud (Kumo). That along with the cross of the Tenkan-Sen below the Kijun-Sen, has kept the EUR/JPY capped below the 159.00 figure. If sellers would like to extend the downtrend, they must drag prices below the Tenkan-Sen at 157.03, followed by the Kijun-Sen at 156.48, as the pair extends its losses toward 156.00.
On the other hand, if the EUR/JPY reverses its course and achieves a daily close above 158.50, that could open the door for a test of 159.00. On further strength, the pair would aim towards the bottom of the Kumo at 159.30, ahead of challenging 160.00.
EUR/JPY Price Action – Daily Chart
EUR/JPY Technical Levels
EUR/JPY
Overview | |
---|---|
Today last price | 157.95 |
Today Daily Change | -0.40 |
Today Daily Change % | -0.25 |
Today daily open | 158.35 |
Trends | |
---|---|
Daily SMA20 | 156.67 |
Daily SMA50 | 159.3 |
Daily SMA100 | 158.62 |
Daily SMA200 | 155.38 |
Levels | |
---|---|
Previous Daily High | 159 |
Previous Daily Low | 158.05 |
Previous Weekly High | 159 |
Previous Weekly Low | 155.07 |
Previous Monthly High | 161.78 |
Previous Monthly Low | 153.17 |
Daily Fibonacci 38.2% | 158.64 |
Daily Fibonacci 61.8% | 158.41 |
Daily Pivot Point S1 | 157.93 |
Daily Pivot Point S2 | 157.52 |
Daily Pivot Point S3 | 156.99 |
Daily Pivot Point R1 | 158.88 |
Daily Pivot Point R2 | 159.41 |
Daily Pivot Point R3 | 159.83 |
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