#EURJPY @ 148.154 extends the rally and prints new 2023 highs on Monday. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER 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_level1)]

• EUR/JPY extends the rally and prints new 2023 highs on Monday.
• Once the 2022 high is cleared, the cross could challenge 150.00.

The pair currently trades last at 148.154.

The previous day high was 147.57 while the previous day low was 146.4. The daily 38.2% Fib levels comes at 147.12, expected to provide support. Similarly, the daily 61.8% fib level is at 146.85, expected to provide support.

EUR/JPY climbs to new YTD peaks past the 148.00 barrier at the beginning of the week.

The strong upside momentum in the cross appears so far unabated. The surpass of the the 2022 peak at 148.40 (October 21) is expected to shift the focus to a potential test of the key 150.00 yardstick in the not-so-distant future.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.26.

Technical Levels: Supports and Resistances

EURJPY currently trading at 148.27 at the time of writing. Pair opened at 147.4 and is trading with a change of 0.59 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 145.17, 50 SMA 143.98, 100 SMA @ 142.78 and 200 SMA @ 142.28.

The previous day high was 147.57 while the previous day low was 146.4. The daily 38.2% Fib levels comes at 147.12, expected to provide support. Similarly, the daily 61.8% fib level is at 146.85, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 146.68, 145.96, 145.52
• Pivot resistance is noted at 147.85, 148.29, 149.01

[/s2If]
Join Our Telegram Group