#EURJPY @ 149.235 After achieving a weekly high of 150.05, retreats to 149.24 amid souring sentiment. (Pivot Orderbook analysis)

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• After achieving a weekly high of 150.05, EUR/JPY retreats to 149.24 amid souring sentiment.
• The failure to surpass the 150.00 threshold and harmful Eurozone data create downward pressure.
• Market players eye crucial cues from upcoming ECB speakers and Japanese inflation figures.

The pair currently trades last at 149.235.

The previous day high was 149.93 while the previous day low was 148.84. The daily 38.2% Fib levels comes at 149.51, expected to provide resistance. Similarly, the daily 61.8% fib level is at 149.25, expected to provide resistance.

Following Tuesday’s session, EUR/JPY floats at around 149.24, which witnessed the EUR/JPY pair hitting a new weekly high of 150.05, before the cross tumbled as sentiment deteriorated, finishing Tuesday’s session with losses of 0.40%.

The EUR/JPY daily chart suggests the pair remains neutral but slightly downward biased, as it remains below the year-to-date (YTD) high of 151.61. in the last three trading days, the EUR/JPY failed to conquer the 150.00 figure, and bad Eurozone (EU) economic data on Tuesday exposed the pair to selling pressure. That would likely keep the EUR/JPY trapped within the 149.00-150.00 area unless fundamental catalysts like European Central Bank (ECB) speakers or Japanese inflation figures give some cues about the EUR/JPY’s trend direction.

On the upside, the EUR/JPY first resistance is 150.00. A breach of it, and the cross could rally toward 151.00, ahead of the YTD high of 151.61. Conversely, the EUR/JPY first support is 149.00. A successful move below this resistance will pave the way for a pullback toward the 20-day Exponential Moving Average (EMA) at 148.42 before dipping toward the 148.00 figure. The next stop would be the 59-day EMA at 146.85.

The Relative Strength Index (RSI) indicator is stills in bullish territory but turned flat, suggesting that buyers are taking a respite, while the 3-day Rate of Change (RoC) shifts neutral.

Technical Levels: Supports and Resistances

EURJPY currently trading at 149.24 at the time of writing. Pair opened at 149.87 and is trading with a change of -0.42 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 148.55, 50 SMA 145.98, 100 SMA @ 143.99 and 200 SMA @ 143.4.

The previous day high was 149.93 while the previous day low was 148.84. The daily 38.2% Fib levels comes at 149.51, expected to provide resistance. Similarly, the daily 61.8% fib level is at 149.25, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 149.16, 148.46, 148.08
• Pivot resistance is noted at 150.25, 150.63, 151.34

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