#EURJPY @ 143.272 comes under some pressure following recent YTD highs. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• EUR/JPY comes under some pressure following recent YTD highs.
• The continuation of the uptrend remains focused on 146.70.

The pair currently trades last at 143.272.

The previous day high was 143.44 while the previous day low was 142.35. The daily 38.2% Fib levels comes at 143.02, expected to provide support. Similarly, the daily 61.8% fib level is at 142.76, expected to provide support.

EUR/JPY gives away part of Wednesday’s advance to new 2023 highs past the 143.00 hurdle on Thursday.

While the cross looks broadly side-lined for the time being, a convincing breakout of the upper end of the range near 143.50 could trigger a move higher to, initially, the December 2022 top at 146.72 (December 15).

In the meantime, while above the 200-day SMA, today at 141.17, the outlook for the cross is expected to remain positive.

Technical Levels: Supports and Resistances

EURJPY currently trading at 143.23 at the time of writing. Pair opened at 143.37 and is trading with a change of -0.1 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 141.39, 50 SMA 141.53, 100 SMA @ 143.05 and 200 SMA @ 141.16.

The previous day high was 143.44 while the previous day low was 142.35. The daily 38.2% Fib levels comes at 143.02, expected to provide support. Similarly, the daily 61.8% fib level is at 142.76, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 142.67, 141.96, 141.58
• Pivot resistance is noted at 143.76, 144.14, 144.85

[/s2If]
Join Our Telegram Group