The EURJPY pair is currently trading at 157.71, slightly higher than its previous value of 157.640. This indicates a small increase of 0.10% as the Asian trading session starts.

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• EUR/JPY trades at 157.71, showing a minimal advance of 0.10% as the Asian session begins.

The pair currently trades last at 157.640.

The previous day high was 158.38 while the previous day low was 156.87. The daily 38.2% Fib levels comes at 157.45, expected to provide support. Similarly, the daily 61.8% fib level is at 157.8, expected to provide resistance.

As the Asian session begins, the EUR/JPY prints a minimal advance of 0.10% after traders failed to conquer the Tenkan-Sen line at 158.18, as the pair dropped below 158.00. At the time of writing, the cross-currency pair exchanges hands at 157.71, set to finish the week with losses.

From a daily chart perspective, the EUR/JPY is still upward biased, but the recent dip below the Tenkan-Sen could pave the way to test lower prices. Next support emerges at the August 23 swing low of 156.87, followed by the top of the Ichimoku Cloud (Kumo) at 155.65/75. On the flip side, if buyers want to resume the uptrend, the pair must pierce the Tenkan-Sen at 158.18, so the cross could threaten to test the year-to-date (YTD) high at 159.49.

Short term, the EUR/JPY hourly chart portrays the pair as neutral biased, with risks seen slightly tilted to the upside, as the pair achieved two successive series of higher highs and higher lows. Nevertheless, buyers must lift the pair above the August 23 high of 158.37 to reinforce the upside bias.

On its way towards that level, the EUR/JPY must surpass the Tenkan Sen at 157.74, the R1 daily pivot point at 158.04, and the top of the Kumo at around 158.20. Conversely, if the cross drops below the confluence of the Kijun-Sen and the daily pivot point at 157.57, the pair would cre-test the weekly low of 156.86. But first, sellers must reclaim the bottom of the Kumo at 157.40, followed by the 157.00 figure.

Technical Levels: Supports and Resistances

EURJPY currently trading at 157.73 at the time of writing. Pair opened at 157.32 and is trading with a change of 0.26 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 157.46, 50 SMA 156.66, 100 SMA @ 152.58 and 200 SMA @ 147.55.

The previous day high was 158.38 while the previous day low was 156.87. The daily 38.2% Fib levels comes at 157.45, expected to provide support. Similarly, the daily 61.8% fib level is at 157.8, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 156.67, 156.02, 155.17
• Pivot resistance is noted at 158.18, 159.03, 159.68

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