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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 price146.55
Today Daily Change49
Today Daily Change %-0.08
Today daily open146.67
 
Trends
Daily SMA20146.08
Daily SMA50143.52
Daily SMA100141.09
Daily SMA200137.91
 
Levels
Previous Daily High147
Previous Daily Low145.99
Previous Weekly High147.76
Previous Weekly Low144.04
Previous Monthly High148.4
Previous Monthly Low140.9
Daily Fibonacci 38.2%146.37
Daily Fibonacci 61.8%146.61
Daily Pivot Point S1146.11
Daily Pivot Point S2145.55
Daily Pivot Point S3145.11
Daily Pivot Point R1147.11
Daily Pivot Point R2147.56
Daily Pivot Point R3148.12

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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