The EURJPY currency pair has decreased to 157.03 from 157.330, as a result of the cautious approach taken by prominent central banks around the world.
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- EUR/JPY dips to 157.03, influenced by the restrictive policy stance of major global central banks.
The pair currently trades last at 157.330.
The previous day high was 158.45 while the previous day low was 157.77. The daily 38.2% Fib levels comes at 158.19, expected to provide resistance. Similarly, the daily 61.8% fib level is at 158.03, expected to provide resistance.
EUR/JPY dropped to a new four-day low of 157.03 on Thursday, courtesy of risk-aversion, after major global central banks decided to hold rates unchanged but kept their restrictive policy stance, led by the Federal Reserve and the Bank of England. At the time of writing, the pair exchanges hands at 157.27, losses a minuscule 0.07%, as Friday’s Asian session begins.
The EUR/JPY daily chart portrays the pair as neutral-biased, though tilted to the downside. Failure to cling to the 158.00 mark exacerbated the cross fall, clearing crucial support levels, like the Kijun and Tenkan-Sen levels, each at 158.17 and 157.64. Nevertheless, bears must drag prices below the latest two swing lows, September 14 and 11, each at 156.64 and 156.58, respectively. At that point, the pair could extend its losses toward the bottom of the Ichimoku Cloud (Kumo) at 154.50.
Short-term, the EUR/JPY is downward biased, with price action in the hourly chart standing below the Kumo, while the Tenkan and Kijun-Sen are in a bearish, orderly way. Nonetheless, the cross is set for an upward correction towards the confluence of the Kijun-Sen and the 50% Fibonacci retracement at around 157.55/60. After that, the cross-currency pair’s first support would be the Tenkan-Sen at 157.28, followed by the 157.00 figure, ahead of dropping towards 156.50.
Technical Levels: Supports and Resistances
EURJPY currently trading at 157.29 at the time of writing. Pair opened at 158.14 and is trading with a change of -0.54 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 157.29 |
| 1 | Today Daily Change | -0.85 |
| 2 | Today Daily Change % | -0.54 |
| 3 | Today daily open | 158.14 |
The pair is trading below its 20 Daily moving average @ 158.06, below its 50 Daily moving average @ 157.41 , above its 100 Daily moving average @ 154.73 and above its 200 Daily moving average @ 148.95
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 158.06 |
| 1 | Daily SMA50 | 157.41 |
| 2 | Daily SMA100 | 154.73 |
| 3 | Daily SMA200 | 148.95 |
The previous day high was 158.45 while the previous day low was 157.77. The daily 38.2% Fib levels comes at 158.19, expected to provide resistance. Similarly, the daily 61.8% fib level is at 158.03, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 157.79, 157.44, 157.11
- Pivot resistance is noted at 158.47, 158.8, 159.15
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 158.45 |
| Previous Daily Low | 157.77 |
| Previous Weekly High | 158.66 |
| Previous Weekly Low | 156.58 |
| Previous Monthly High | 159.76 |
| Previous Monthly Low | 155.53 |
| Daily Fibonacci 38.2% | 158.19 |
| Daily Fibonacci 61.8% | 158.03 |
| Daily Pivot Point S1 | 157.79 |
| Daily Pivot Point S2 | 157.44 |
| Daily Pivot Point S3 | 157.11 |
| Daily Pivot Point R1 | 158.47 |
| Daily Pivot Point R2 | 158.80 |
| Daily Pivot Point R3 | 159.15 |
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