EURJPY fails to crack the confluence of resistance and the 20-DMA around 145.40. (Pivot Orderbook analysis)

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• EURJPY fails to crack the confluence of resistance and the 20-DMA around 145.40.
• JPY buyers are gathering momentum, as shown by the RSI at bearish territory, aiming downward.

The pair currently trades last at 144.43.

The previous day high was 146.57 while the previous day low was 145.04. The daily 38.2% Fib levels comes at 145.62, expected to provide resistance. Similarly, the daily 61.8% fib level is at 145.99, expected to provide resistance.

The EURJPY slides a minuscule 0.05% as the Asian Pacific session begins, courtesy of a risk-off impulse that weighed on the EUR, which registered losses of 0.45% vs. the JPY on Thursday. At the time of writing, the EURJPY is trading at 144.50.

The EURJPY daily chart displays that Japanese Yen buyers are gathering momentum due to some reasons. First, since hitting the 2022 year high at 148.40, the cross-currency pair hoovered within a range for five days before tumbling to fresh weekly lows at 144.03. Second, the Relative Strength Index (RSI) crossed beneath the 50-midline with a bearish slope, suggesting a test of the 50-day Exponential Moving Average (EMA) at 143.12 is on the cards.

For that scenario to play out, the EURJPY’s first support would be the 144.00 mark. Key support levels lie at the October 24 daily low at 143.72, followed by the previously mentioned 50-day EMA at 143.12. The break below will expose the psychological 143.00.

Contrarily, if EUR bulls reclaim 145,00, the EURJPY could climb towards 146.00, which, once cleared, could lay the ground towards the psychological 147.00, ahead of the YTD high hat 148.40.

Technical Levels: Supports and Resistances

EURUSD currently trading at 144.43 at the time of writing. Pair opened at 145.27 and is trading with a change of -0.58 % .

The pair is trading below its 20 Daily moving average @ 145.23, above its 50 Daily moving average @ 142.87 , above its 100 Daily moving average @ 140.93 and above its 200 Daily moving average @ 137.57

The previous day high was 146.57 while the previous day low was 145.04. The daily 38.2% Fib levels comes at 145.62, expected to provide resistance. Similarly, the daily 61.8% fib level is at 145.99, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 144.68, 144.09, 143.14
• Pivot resistance is noted at 146.22, 147.17, 147.76

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