#EURJPY @ 146.962 retraces Friday’s losses and returns above 148.00. (Pivot Orderbook analysis)
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- EUR/JPY retraces Friday’s losses and returns above 148.00.
- Above 148.40 the pair will aim to 2014 high at 149.80.
- On the downside, a breach of 144.00 support would negate the bullish bias.
The pair currently trades last at 146.962.
The previous day high was 148.4 while the previous day low was 144.1. The daily 38.2% Fib levels comes at 145.75, expected to provide support. Similarly, the daily 61.8% fib level is at 146.76, expected to provide support.
The euro has taken back on Monday most of the ground lost on Friday’s suspected intervention by the Japanese authorities. The pair appreciated about 1% so far today, returning above 147.00 from the 143.70 lows
The four-hour chart shows the upward trending support from late September lows intact, and the pair on a steady upward trend hitting higher tops and bottoms.
The positive price action is likely to push the pair towards Friday’s high, at 148.40. A confirmation above here would set the focus at the 2014 high at 149.80 ahead of the 150.00 psychological level.
On the downside, the 50-period SMA has been holding downside attempts over the latest sessions with another important support area at 144.00 (Trendline support and 100-period SMA). Below here, the pair would negate the near-term bullish bias, aiming probably at the 141.00 area (October 10,11 lows).
Technical Levels: Supports and Resistances
EURJPY currently trading at 147.0 at the time of writing. Pair opened at 145.91 and is trading with a change of 0.75 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 147.00 |
| 1 | Today Daily Change | 1.09 |
| 2 | Today Daily Change % | 0.75 |
| 3 | Today daily open | 145.91 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 143.11, 50 SMA 141.28, 100 SMA @ 140.51 and 200 SMA @ 136.88.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 143.11 |
| 1 | Daily SMA50 | 141.28 |
| 2 | Daily SMA100 | 140.51 |
| 3 | Daily SMA200 | 136.88 |
The previous day high was 148.4 while the previous day low was 144.1. The daily 38.2% Fib levels comes at 145.75, expected to provide support. Similarly, the daily 61.8% fib level is at 146.76, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 143.88, 141.84, 139.58
- Pivot resistance is noted at 148.18, 150.44, 152.48
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 148.40 |
| Previous Daily Low | 144.10 |
| Previous Weekly High | 148.40 |
| Previous Weekly Low | 144.10 |
| Previous Monthly High | 145.64 |
| Previous Monthly Low | 137.38 |
| Daily Fibonacci 38.2% | 145.75 |
| Daily Fibonacci 61.8% | 146.76 |
| Daily Pivot Point S1 | 143.88 |
| Daily Pivot Point S2 | 141.84 |
| Daily Pivot Point S3 | 139.58 |
| Daily Pivot Point R1 | 148.18 |
| Daily Pivot Point R2 | 150.44 |
| Daily Pivot Point R3 | 152.48 |
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