#EURJPY @ 158.650 ‘s loss may indicate a bearish shift, with a possible close below Ichimoku Cloud signaling further downtrend. (Pivot Orderbook analysis)
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- EUR/JPY’s loss may indicate a bearish shift, with a possible close below Ichimoku Cloud signaling further downtrend.
- Immediate support levels include 159.50 and Tenkan-Sen at 157.62, with significant downside risk at Kijun Sen at 156.64.
- For a bullish reversal, EUR/JPY needs to stay above Senkou Span B at 158.71, targeting 159.00 and 160.18.
The pair currently trades last at 158.650.
The previous day high was 160.18 while the previous day low was 159.38. The daily 38.2% Fib levels comes at 159.69, expected to provide resistance. Similarly, the daily 61.8% fib level is at 159.88, expected to provide resistance.
The Euro (EUR) is at the brink of turning decisively bearish against the Japanese Yen (JPY), printing losses of 0.44% on Friday, though set to finish the week with 0.26% gains. Nevertheless, as price action cracks inside the Ichimoku Cloud (Kumo), sellers pressure the pain, which, if it prints a daily close below the Kumo, would pave the way for further losses. The EUR/JPY trades at 158.61, after hitting a high of 159.57.
As mentioned above, EUR/JPY bears are gathering momentum, which could extend if they reclaim the December 19 swing high of 159.57, which could pave the way for breaking the next support seen at the 159.50 area, the bottom of the Kumo. In that outcome, the cross-pair could plunge sharply and challenge the Tenkan-Sen at 157.62, followed by the Senkou Span A at 157.14. Further downside is seen at the Kijun Sen at 156.64.
On the flip side, if buyers’ momentum increases, and they keep the EUR/JPY above the Senkou Span B at 158.71, that could sponsor a move toward the 159.00 mark Once broken, the next intermediate resistance level would be the January 11 high at 160.18.
Technical Levels: Supports and Resistances
EURJPY currently trading at 158.68 at the time of writing. Pair opened at 159.53 and is trading with a change of -0.53 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 158.68 |
| 1 | Today Daily Change | -0.85 |
| 2 | Today Daily Change % | -0.53 |
| 3 | Today daily open | 159.53 |
The pair is trading above its 20 Daily moving average @ 157.14, below its 50 Daily moving average @ 159.24 , above its 100 Daily moving average @ 158.65 and above its 200 Daily moving average @ 155.68
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 157.14 |
| 1 | Daily SMA50 | 159.24 |
| 2 | Daily SMA100 | 158.65 |
| 3 | Daily SMA200 | 155.68 |
The previous day high was 160.18 while the previous day low was 159.38. The daily 38.2% Fib levels comes at 159.69, expected to provide resistance. Similarly, the daily 61.8% fib level is at 159.88, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 159.21, 158.9, 158.41
- Pivot resistance is noted at 160.01, 160.5, 160.81
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 160.18 |
| Previous Daily Low | 159.38 |
| Previous Weekly High | 159.00 |
| Previous Weekly Low | 155.07 |
| Previous Monthly High | 161.78 |
| Previous Monthly Low | 153.17 |
| Daily Fibonacci 38.2% | 159.69 |
| Daily Fibonacci 61.8% | 159.88 |
| Daily Pivot Point S1 | 159.21 |
| Daily Pivot Point S2 | 158.90 |
| Daily Pivot Point S3 | 158.41 |
| Daily Pivot Point R1 | 160.01 |
| Daily Pivot Point R2 | 160.50 |
| Daily Pivot Point R3 | 160.81 |
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