#EURJPY @ 137.045 -imp levels: seems to have now moved into a consolidative phase.

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• EUR/JPY seems to have now moved into a consolidative phase.
• Immediately to the upside emerges the August high at 138.40.

The pair currently trades last at 137.045.

The previous day high was 137.96 while the previous day low was 136.94. The daily 38.2% Fib levels comes at 137.57, expected to provide resistance. Similarly, the daily 61.8% fib level is at 137.33, expected to provide resistance.

EUR/JPY fades Friday’s advance and resumes the downside around the 137.00 region on Monday.

If the cross manages to break above the ongoing range bound theme, the so far August high at 138.39 (August 10) is expected to come into focus once again. Above the latter, EUR/JPY could attempt a move to the 55-day SMA, today at 139.36.

While above the 200-day SMA at 134.08, the prospects for the pair should remain constructive.

Technical Levels: Supports and Resistances

EURJPY currently trading at 137.0 at the time of writing. Pair opened at 137.52 and is trading with a change of -0.38 % .

The pair is trading below its 20 Daily moving average @ 137.06, below its 50 Daily moving average @ 139.2 , below its 100 Daily moving average @ 138.19 and above its 200 Daily moving average @ 134.08

The previous day high was 137.96 while the previous day low was 136.94. The daily 38.2% Fib levels comes at 137.57, expected to provide resistance. Similarly, the daily 61.8% fib level is at 137.33, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 136.99, 136.45, 135.96
• Pivot resistance is noted at 138.01, 138.5, 139.03

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