EUR/JPY Price Analysis: Interim Contention Emerges At 158.80

  • EUR/JPY adds to Thursday’s corrective decline.
  • Further losses appear on the cards near term.

EUR/JPY comes under extra selling pressure following Thursday’s 2023 peaks north of the 164.00 hurdle.

The continuation of the retracement from overbought levels appears on the cards for the time being. Against that, the cross could initially revisit the provisional 55-day SMA near 158.80 prior to the weekly low of 157.69 (October 30).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.68.
 

EUR/JPY daily chart

(Click on image to enlarge)


EUR/JPY

OVERVIEW
Today last price 162.79
Today Daily Change 145
Today Daily Change % -0.43
Today daily open 163.49
TRENDS
Daily SMA20 160.55
Daily SMA50 158.8
Daily SMA100 157.97
Daily SMA200 152.61
LEVELS
Previous Daily High 164.31
Previous Daily Low 163.26
Previous Weekly High 161.95
Previous Weekly Low 160.15
Previous Monthly High 160.85
Previous Monthly Low 154.39
Daily Fibonacci 38.2% 163.66
Daily Fibonacci 61.8% 163.91
Daily Pivot Point S1 163.06
Daily Pivot Point S2 162.63
Daily Pivot Point S3 162.01
Daily Pivot Point R1 164.11
Daily Pivot Point R2 164.74
Daily Pivot Point R3 165.17

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Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...

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