#EURJPY @ 142.865 takes offers while breaking weekly triangle, retreats from 200-HMA., @nehcap view: Further upside expected (Pivot Orderbook analysis)
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- EUR/JPY takes offers while breaking weekly triangle, retreats from 200-HMA.
- Downbeat RSI, bearish MACD signals also keep sellers hopeful.
- Bears approach 142.30, bulls could aim for 61.8% FE past 143.70.
The pair currently trades last at 142.865.
The previous day high was 144.04 while the previous day low was 143.02. The daily 38.2% Fib levels comes at 143.41, expected to provide resistance. Similarly, the daily 61.8% fib level is at 143.65, expected to provide resistance.
EUR/JPY takes offers to refresh intraday low around 142.62 as European traders braces for the Fed’s verdict on Wednesday.
In doing so, the cross-currency pair retreats from the 200-HMA while breaking a one-week-old symmetrical triangle to the downside.
Given the recently weaker RSI (14), not oversold, as well as the looming bull cross of the MACD, the EUR/JPY is likely to aim for the latest swing low near 142.30
Following that, the 61.8% Fibonacci retracement of September 05-12 upside, near 141.35, may offer an intermediate halt during the south run targeting the 140.00 psychological magnet.
Alternatively, buyers need to cross the immediate HMA hurdle surrounding 143.60, which in turn will allow the quote to aim for the stated triangle’s resistance line, near 143.70.
In a case where the quote remains firmer past 143.70, the latest peak surrounding 145.65 could lure the bulls ahead of directing them to the 61.8% Fibonacci Expansion (FE) of September 05-14 moves, close to 146.65.
Trend: Further upside expected
Technical Levels: Supports and Resistances
EURJPY currently trading at 143.28 at the time of writing. Pair opened at 143.37 and is trading with a change of -0.06% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 143.28 |
| 1 | Today Daily Change | -0.09 |
| 2 | Today Daily Change % | -0.06% |
| 3 | Today daily open | 143.37 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 141.19, 50 SMA 139.13, 100 SMA @ 139.11 and 200 SMA @ 135.42.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 141.19 |
| 1 | Daily SMA50 | 139.13 |
| 2 | Daily SMA100 | 139.11 |
| 3 | Daily SMA200 | 135.42 |
The previous day high was 144.04 while the previous day low was 143.02. The daily 38.2% Fib levels comes at 143.41, expected to provide resistance. Similarly, the daily 61.8% fib level is at 143.65, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 142.91, 142.46, 141.89
- Pivot resistance is noted at 143.93, 144.5, 144.95
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 144.04 |
| Previous Daily Low | 143.02 |
| Previous Weekly High | 145.64 |
| Previous Weekly Low | 142.30 |
| Previous Monthly High | 139.73 |
| Previous Monthly Low | 133.40 |
| Daily Fibonacci 38.2% | 143.41 |
| Daily Fibonacci 61.8% | 143.65 |
| Daily Pivot Point S1 | 142.91 |
| Daily Pivot Point S2 | 142.46 |
| Daily Pivot Point S3 | 141.89 |
| Daily Pivot Point R1 | 143.93 |
| Daily Pivot Point R2 | 144.50 |
| Daily Pivot Point R3 | 144.95 |
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