The EURJPY pair experiences downward pressure after testing the 157.50 level.
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- EUR/JPY comes under pressure following a test of 157.50.
The pair currently trades last at 156.901.
The previous day high was 157.49 while the previous day low was 156.39. The daily 38.2% Fib levels comes at 157.07, expected to provide resistance. Similarly, the daily 61.8% fib level is at 156.81, expected to provide support.
EUR/JPY reverses three consecutive daily advances and faces some selling pressure soon after testing weekly highs near 157.50 on Wednesday.
The continuation of the upside momentum should initially target the 2023 high at 158.04 (July 21), while the surpass of this levels exposes a move to the round level of 160.00 in the not-so-distant future.
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.58.
Technical Levels: Supports and Resistances
EURJPY currently trading at 156.88 at the time of writing. Pair opened at 157.46 and is trading with a change of -0.37 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 156.88 |
| 1 | Today Daily Change | 126.00 |
| 2 | Today Daily Change % | -0.37 |
| 3 | Today daily open | 157.46 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 155.84, 50 SMA 154.15, 100 SMA @ 150.12 and 200 SMA @ 146.57.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 155.84 |
| 1 | Daily SMA50 | 154.15 |
| 2 | Daily SMA100 | 150.12 |
| 3 | Daily SMA200 | 146.57 |
The previous day high was 157.49 while the previous day low was 156.39. The daily 38.2% Fib levels comes at 157.07, expected to provide resistance. Similarly, the daily 61.8% fib level is at 156.81, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 156.74, 156.02, 155.64
- Pivot resistance is noted at 157.83, 158.21, 158.93
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 157.49 |
| Previous Daily Low | 156.39 |
| Previous Weekly High | 157.80 |
| Previous Weekly Low | 151.41 |
| Previous Monthly High | 158.05 |
| Previous Monthly Low | 151.41 |
| Daily Fibonacci 38.2% | 157.07 |
| Daily Fibonacci 61.8% | 156.81 |
| Daily Pivot Point S1 | 156.74 |
| Daily Pivot Point S2 | 156.02 |
| Daily Pivot Point S3 | 155.64 |
| Daily Pivot Point R1 | 157.83 |
| Daily Pivot Point R2 | 158.21 |
| Daily Pivot Point R3 | 158.93 |
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