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EURJPY Price Analysis: Further consolidation appears likely below 147.00

  • EURJPY adds to Tuesday’s decline, always below the 147.00 region.
  • Extra range bound should not be ruled out in the near term.

EURJPY loses further momentum following the rejection from the 147.00 neighbourhood earlier in the week.

The cross seems to have embarked on a consolidative phase, with the upper end of the range limited by the 147.00 area. A breakout of the latter should open the door to extra gains to, initially, the 2022 top at 148.40 (October 21) ahead of the round level at 150.00.

In the short term the upside momentum is expected to persist while above the October lows near 141.00.

In the longer run, while above the key 200-day SMA at 137.96, the constructive outlook is expected to remain unchanged.

EURJPY daily chart

EUR/JPY

Overview
Today last price 146.55
Today Daily Change 49
Today Daily Change % -0.08
Today daily open 146.67
 
Trends
Daily SMA20 146.08
Daily SMA50 143.52
Daily SMA100 141.09
Daily SMA200 137.91
 
Levels
Previous Daily High 147
Previous Daily Low 145.99
Previous Weekly High 147.76
Previous Weekly Low 144.04
Previous Monthly High 148.4
Previous Monthly Low 140.9
Daily Fibonacci 38.2% 146.37
Daily Fibonacci 61.8% 146.61
Daily Pivot Point S1 146.11
Daily Pivot Point S2 145.55
Daily Pivot Point S3 145.11
Daily Pivot Point R1 147.11
Daily Pivot Point R2 147.56
Daily Pivot Point R3 148.12

 

 

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