EUR/JPY Price Analysis: Extends Losses To Two Days, Diving Below 158.00
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
(Click on image to enlarge)
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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