#EURJPY @ 158.285 trades near the top of the Ichimoku Cloud, with first support at 158.00.
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- EUR/JPY trades near the top of the Ichimoku Cloud, with first support at 158.00.
The pair currently trades last at 158.285.
The previous day high was 158.88 while the previous day low was 157.88. The daily 38.2% Fib levels comes at 158.27, expected to provide support. Similarly, the daily 61.8% fib level is at 158.5, expected to provide resistance.
EUR/JPY clings to Monday’s gains on Tuesday, in the early Asian session, following Monday’s session, which witnessed the pair reaching a daily high shy of the 159.00 figure, to witness the pair closing at around current exchange rates. At the time of writing, the EUR/JPY is trading at 158.26.
The Eurozone (EU) economic docket witnessed that inflation in Germany dipped sharply, suggesting the latest European Central Bank (ECB) decision of holding rates could be the first pause of many, with the economies across the bloc stagnating. In that regard, Germany’s GDP for Q3 contracted less than expected but printed a negative reading.
On the Japanese Yen (JPY) front, a news piece by Nikkei reported the Bank of Japan (BoJ) could likely tweak its Yield Curve Control (YCC). Consequently, market participants bought the Yen in anticipation of Today’s BoJ monetary policy decision.
The daily chart portrays the pair trading near the top of the Ichimoku Cloud (Kumo) after buyers failed to reclaim the Tenkan-Sen at 158.79. A breach of that exacerbated the EUR/JPY’s fall to the current week’s low of 157.69, which lies inside the Kumo. The EUR/JPY first support would be 158.00, followed by the 157.69. Once cleared, up next would be the Kijun-Sen at 157.12, ahead of 157.00, before prices tumble to the base of the Kumo at 155.61. Conversely, if buyers stepped in, the Tenkan Sen would first resist, followed by the 159.00 figure.
Technical Levels: Supports and Resistances
EURJPY currently trading at 158.22 at the time of writing. Pair opened at 158.14 and is trading with a change of 0.05 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 158.22 |
| 1 | Today Daily Change | 0.08 |
| 2 | Today Daily Change % | 0.05 |
| 3 | Today daily open | 158.14 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 157.89, 50 SMA 157.95, 100 SMA @ 157.09 and 200 SMA @ 151.22.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 157.89 |
| 1 | Daily SMA50 | 157.95 |
| 2 | Daily SMA100 | 157.09 |
| 3 | Daily SMA200 | 151.22 |
The previous day high was 158.88 while the previous day low was 157.88. The daily 38.2% Fib levels comes at 158.27, expected to provide support. Similarly, the daily 61.8% fib level is at 158.5, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 157.72, 157.3, 156.72
- Pivot resistance is noted at 158.72, 159.3, 159.72
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 158.88 |
| Previous Daily Low | 157.88 |
| Previous Weekly High | 159.92 |
| Previous Weekly Low | 157.88 |
| Previous Monthly High | 158.66 |
| Previous Monthly Low | 156.58 |
| Daily Fibonacci 38.2% | 158.27 |
| Daily Fibonacci 61.8% | 158.50 |
| Daily Pivot Point S1 | 157.72 |
| Daily Pivot Point S2 | 157.30 |
| Daily Pivot Point S3 | 156.72 |
| Daily Pivot Point R1 | 158.72 |
| Daily Pivot Point R2 | 159.30 |
| Daily Pivot Point R3 | 159.72 |
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