#EURJPY @ 144.524 gives away part of Monday’s advance to new cycle tops. (Pivot Orderbook analysis)
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- EUR/JPY gives away part of Monday’s advance to new cycle tops.
- Overbought conditions could trigger a corrective move.
The pair currently trades last at 144.524.
The previous day high was 145.64 while the previous day low was 143.1. The daily 38.2% Fib levels comes at 144.67, expected to provide resistance. Similarly, the daily 61.8% fib level is at 144.07, expected to provide support.
EUR/JPY trades in an unconclusive fashion around the mid-144.00s on Tuesday.
Extra gains in the cross appear well favoured for the time being. The next target, however, is not expected to emerge until the 2014 high at 149.78 (December 8). Of note, however, is that the cross remains within the overbought territory and suggests the likelihood of a technical correction in the short-term horizon.
In the meantime, the constructive outlook in the cross remains unchanged while above the 200-day SMA, today at 135.01.
Technical Levels: Supports and Resistances
EURJPY currently trading at 144.57 at the time of writing. Pair opened at 144.61 and is trading with a change of -0.03 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 144.57 |
| 1 | Today Daily Change | 63.00 |
| 2 | Today Daily Change % | -0.03 |
| 3 | Today daily open | 144.61 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 139.24, 50 SMA 138.52, 100 SMA @ 138.69 and 200 SMA @ 134.97.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 139.24 |
| 1 | Daily SMA50 | 138.52 |
| 2 | Daily SMA100 | 138.69 |
| 3 | Daily SMA200 | 134.97 |
The previous day high was 145.64 while the previous day low was 143.1. The daily 38.2% Fib levels comes at 144.67, expected to provide resistance. Similarly, the daily 61.8% fib level is at 144.07, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 143.26, 141.92, 140.73
- Pivot resistance is noted at 145.8, 146.98, 148.33
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 145.64 |
| Previous Daily Low | 143.10 |
| Previous Weekly High | 144.72 |
| Previous Weekly Low | 138.69 |
| Previous Monthly High | 139.73 |
| Previous Monthly Low | 133.40 |
| Daily Fibonacci 38.2% | 144.67 |
| Daily Fibonacci 61.8% | 144.07 |
| Daily Pivot Point S1 | 143.26 |
| Daily Pivot Point S2 | 141.92 |
| Daily Pivot Point S3 | 140.73 |
| Daily Pivot Point R1 | 145.80 |
| Daily Pivot Point R2 | 146.98 |
| Daily Pivot Point R3 | 148.33 |
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