#EURJPY @ 144.559 prints new multi-year peaks past 145.00. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• EUR/JPY prints new multi-year peaks past 145.00.
• Extra gains could extend to the 2014 high near 150.00.

The pair currently trades last at 144.559.

The previous day high was 144.72 while the previous day low was 142.64. The daily 38.2% Fib levels comes at 143.44, expected to provide support. Similarly, the daily 61.8% fib level is at 143.93, expected to provide support.

EUR/JPY starts the week on the positive foot and records new highs near 145.60.

Extra gains in the cross appear well favoured for the time being. The next target, however, is not expected to emerge until the 2014 high at 149.78 (December 8).

While above the 200-day SMA at 134.93, the prospects for the pair should remain constructive.

Of note, however, is the current overbought condition of EUR/JPY, which could spark a technical drop in the near term.

Technical Levels: Supports and Resistances

EURJPY currently trading at 144.63 at the time of writing. Pair opened at 143.1 and is trading with a change of 1.07 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 138.79, 50 SMA 138.45, 100 SMA @ 138.62 and 200 SMA @ 134.88.

The previous day high was 144.72 while the previous day low was 142.64. The daily 38.2% Fib levels comes at 143.44, expected to provide support. Similarly, the daily 61.8% fib level is at 143.93, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 142.25, 141.4, 140.17
• Pivot resistance is noted at 144.34, 145.58, 146.43

[/s2If]
Join Our Telegram Group