#EURJPY @ 139.174 is range-bound around 139.00 awaiting the release of Japanese CPI. (Pivot Orderbook analysis)

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• EUR/JPY is range-bound around 139.00 awaiting the release of Japanese CPI.
• EUR/JPY Price Analysis: Bullish above 140.00; otherwise, exposed to selling pressure.

The pair currently trades last at 139.174.

The previous day high was 141.69 while the previous day low was 138.18. The daily 38.2% Fib levels comes at 140.35, expected to provide resistance. Similarly, the daily 61.8% fib level is at 139.52, expected to provide resistance.

The EUR/JPY finished Thursday’s session flat and remained trading sideways ahead of December’s release of the Japanese Consumer Price Index (CPI). As the Asian session begins, the EUR/JPY is trading at 139.06, almost flat.

The EUR/JPY daily chart portrays the pair as neutral-downward biased, as it remains below the daily Exponential Moving Averages (EMAs). Also, the 20-day EMA at 140.29 is about to cross below the 200-day EMA at 140.14, which would resume the downtrend in the near term. Solid support is found around the last week’s low of 138.01, tested on Thursday, though the EUR/JPY quickly rebounded towards the 139.00 figure.

Oscillators-wise, the Relative Strength Index (RSI) in the bearish territory is flat, while the Rate of Change (RoC), portrays buyers losing momentum. Therefore, the EUR/JPY remains sideways, awaiting a possible breakout.

The EUR/JPY first support would be 138.00. A breach of the latter would send the pair aiming towards 137.38, the YTD low, followed by the September 26 pivot low at 137.36. on the upside, the EUR/JPY first resistance would be the 200-day EMA at 140.14, which, once cleared, could expose additional resistance levels. The 20-day EMA at 140.30 would be put in play, followed by the 141.00 figure.

Technical Levels: Supports and Resistances

EURJPY currently trading at 139.1 at the time of writing. Pair opened at 139.04 and is trading with a change of 0.04 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 140.51, 50 SMA 142.6, 100 SMA @ 143.13 and 200 SMA @ 140.74.

The previous day high was 141.69 while the previous day low was 138.18. The daily 38.2% Fib levels comes at 140.35, expected to provide resistance. Similarly, the daily 61.8% fib level is at 139.52, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 137.58, 136.12, 134.07
• Pivot resistance is noted at 141.1, 143.15, 144.61

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