#EURJPY @ 141.901 climbs but stalls around 142.00, the confluence of the figure and the 100-DMA (Pivot Orderbook analysis)

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• EUR/JPY climbs but stalls around 142.00, the confluence of the figure and the 100-DMA
• The EUR/JPY would be bullish above 142.00; otherwise, it could plunge towards 141.00.

The pair currently trades last at 141.901.

The previous day high was 141.92 while the previous day low was 140.16. The daily 38.2% Fib levels comes at 141.25, expected to provide support. Similarly, the daily 61.8% fib level is at 140.84, expected to provide support.

EUR/JPY extends its gains to three consecutive trading days, up by 0.38%, as Wall Street finished Tuesday’s session with solid gains. On its way toward two-week new highs, the EUR/JPY cleared the 20-day Exponential Moving Average (EMA) at 141.53 and is poised to test the 100-day EMA at 142.22. At press time, the EUR/JPY is trading at 141.97.

The cross-currency pair daily chart suggests that buyers remain in charge after clearing the 200-day EMA on January 4, at around 140.16. To continue its uptrend, the EUR/JPY needs to reclaim the 142.00 figure, even though it would face solid resistance around the 100-day EMA. If the EUR/JPY breaks the latter, that will clear the way toward the 50-day EMA at 142.50, followed by the 143.00 mark.

However, if the EUR/JPY’s rally stalls at 142.00, tha can set the pair towards testing the 20-day EMA on the downside around 141.53. Once cleared, the EUR/JPY will slide towards 141.00, followed by a challenge of the 200-day EMA at 140.20.

Technical Levels: Supports and Resistances

EURJPY currently trading at 142.0 at the time of writing. Pair opened at 141.44 and is trading with a change of 0.4 % .

The pair is trading above its 20 Daily moving average @ 141.78, below its 50 Daily moving average @ 143.44 , below its 100 Daily moving average @ 142.97 and above its 200 Daily moving average @ 140.59

The previous day high was 141.92 while the previous day low was 140.16. The daily 38.2% Fib levels comes at 141.25, expected to provide support. Similarly, the daily 61.8% fib level is at 140.84, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 140.43, 139.42, 138.68
• Pivot resistance is noted at 142.18, 142.93, 143.94

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