#EURJPY @ 143.696 The Euro rose to multi-week highs but retraced and cleared the 20 and 50-day EMAs. (Pivot Orderbook analysis)

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• The Euro rose to multi-week highs but retraced and cleared the 20 and 50-day EMAs.
• EUR/JPY: A decisive break below 143.00 could pave the way towards the 100 and 200-day EMAs, around 142.55 and 139.88.

The pair currently trades last at 143.696.

The previous day high was 145.1 while the previous day low was 143.72. The daily 38.2% Fib levels comes at 144.57, expected to provide resistance. Similarly, the daily 61.8% fib level is at 144.25, expected to provide resistance.

The EUR/JPY erases some of its earlier gains after hitting a daily high at 145.34 and tumbles more than 140 pips in the mid-Tuesday North American session, down by 1.02%. At the time of typing, the EUR/JPY is trading at 143.58.

The EUR/JPY remains neutral-biased. After clearing the top-trendline of a descending channel on Monday, the cross pairs those gains and is back within the boundaries of the former. In addition, on its way south, the EUR/JPY conquered the 20 and 50-day Exponential Moving Averages (EMAs) around 143.89/144.04, eyeing a test of the last week’s low around 143.09.

Oscillators like the Relative Strength Index (RSI) crossing below 50, in bearish territory and the Rate of Change (RoC) beneath 0, suggest that sellers are gathering momentum, which would put in play, the 100-day EMA and also the bottom of the descending channel ahead of the 200-day EMA at 139.88.

Therefore, the EUR/JPY first support would be 143.09. Break below will expose the 100-day EMA at 142.55, followed by the December 2 at 142.54, followed by the 200-day EMA at 139.88.

Technical Levels: Supports and Resistances

EURJPY currently trading at 143.64 at the time of writing. Pair opened at 145.1 and is trading with a change of -1.01 % .

The pair is trading below its 20 Daily moving average @ 144.13, below its 50 Daily moving average @ 144.73 , above its 100 Daily moving average @ 142.0 and above its 200 Daily moving average @ 139.62

The previous day high was 145.1 while the previous day low was 143.72. The daily 38.2% Fib levels comes at 144.57, expected to provide resistance. Similarly, the daily 61.8% fib level is at 144.25, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 144.17, 143.25, 142.79
• Pivot resistance is noted at 145.56, 146.03, 146.95

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