EUR/JPY Price Analysis: Gains Momentum, Eyes Key Resistance Levels On Risk-On Mood
- EUR/JPY advances for the second consecutive day, trading around 162.27, reflecting a 0.25% rise amid a favorable risk-on market environment.
- The pair shows an upward bias on the daily chart, with a significant resistance level at the August 2008 high of 165.60.
- On the downside, initial support is identified at the Tenkan-Sen level of 160.72, followed by the Senkou Span A at 160.07 and the Kijun-Sen at 159.44.
EUR/JPY continues to advance for the second straight day, gaining traction toward 162.50 in late trading during the North American session, amid a risk-on impulse and despite Japanese authorities' intervention threats. At the time of writing, the EUR/JPY is exchanging hands at 162.27 up 0.25%.
From a daily chart perspective, the EUR/JPY remains upward biased, with the next resistance level emerging at around the August 2008 high of 165.60. A breach of the latter would expose the July 2008 high of 169.97, ahead of challenging the 170.00.
On the opposite flip side, the EUR/JPY first support would be the Tenkan-Sen level at 160.72 before challenging the Senkou Span A at 160.07 and the Kijun-Sen at 159.44.
EUR/JPY Price Analysis – Daily Chart
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EUR/JPY Technical Levels
EUR/JPY
| OVERVIEW | |
|---|---|
| Today last price | 162.27 |
| Today Daily Change | 0.35 |
| Today Daily Change % | 0.22 |
| Today daily open | 161.92 |
| TRENDS | |
|---|---|
| Daily SMA20 | 159.52 |
| Daily SMA50 | 158.38 |
| Daily SMA100 | 157.73 |
| Daily SMA200 | 152.17 |
| LEVELS | |
|---|---|
| Previous Daily High | 161.95 |
| Previous Daily Low | 161.36 |
| Previous Weekly High | 161.95 |
| Previous Weekly Low | 160.15 |
| Previous Monthly High | 160.85 |
| Previous Monthly Low | 154.39 |
| Daily Fibonacci 38.2% | 161.72 |
| Daily Fibonacci 61.8% | 161.58 |
| Daily Pivot Point S1 | 161.53 |
| Daily Pivot Point S2 | 161.15 |
| Daily Pivot Point S3 | 160.94 |
| Daily Pivot Point R1 | 162.12 |
| Daily Pivot Point R2 | 162.33 |
| Daily Pivot Point R3 | 162.71 |
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