#EURJPY @ 140.651 The cut last Friday’s gains, dropping towards the 200-day EMA, as sellers target 140.00 and below. (Pivot Orderbook analysis)
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- The EUR/JPY cut last Friday’s gains, dropping towards the 200-day EMA, as sellers target 140.00 and below.
- EUR/JPY Price Analysis: The pullback towards the 200-DMA might pave the way for a deeper correction before resuming the uptrend.
The pair currently trades last at 140.651.
The previous day high was 142.88 while the previous day low was 141.59. The daily 38.2% Fib levels comes at 142.39, expected to provide resistance. Similarly, the daily 61.8% fib level is at 142.08, expected to provide resistance.
EUR/JPY continued to trade lower for two consecutive days, retracing most of last Friday’s gains, and reclaimed the 50 and 20-day Exponential Moving Averages (EMAs), on its way south. The Euro’s (EUR) collapse was capped by the trend-setter 200-day EMA at 140.30, though it would likely remain under pressure. At the time of writing, the EUR/JPY is trading at 140.52, with losses of 1.20%, as Tuesday’s session ends.
The EUR/JPY shifted to neutral from neutral-upwards, according to the daily chart, following Tuesday’s fall beneath essential demand zones. In addition, the EUR/JPY pair could turn neutral downwards as the spot price hovers nearby the 200-day EMA, which, once cleared, could pave the way for further losses.
The Relative Strength Index (RSI) and the Rate of Change (RoC) supported the above-mentioned scenario, meaning that in the short term, the EUR/JPY might pull back before resuming its uptrend.
Therefore, the EUR/JPY first support would be the 200-day EMA at 140.30. A breach of the latter will send the pair sliding towards the 140.00 figure, which, once cleared, the EUR/JPY might fall toward the January 20 daily low of 139.03.
As an alternate scenario and the current trend, the EUR/JPY first resistance would be the 20-day EMA at 141.03. A break of that supply zone and the EUR/JPY might rally toward the psychological 142.00 area followed by the February 7 high fo 142.33.
Technical Levels: Supports and Resistances
EURJPY currently trading at 140.56 at the time of writing. Pair opened at 142.3 and is trading with a change of -1.22 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 140.56 |
| 1 | Today Daily Change | -1.74 |
| 2 | Today Daily Change % | -1.22 |
| 3 | Today daily open | 142.30 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 140.83, 50 SMA 141.73, 100 SMA @ 142.97 and 200 SMA @ 141.01.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 140.83 |
| 1 | Daily SMA50 | 141.73 |
| 2 | Daily SMA100 | 142.97 |
| 3 | Daily SMA200 | 141.01 |
The previous day high was 142.88 while the previous day low was 141.59. The daily 38.2% Fib levels comes at 142.39, expected to provide resistance. Similarly, the daily 61.8% fib level is at 142.08, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 141.63, 140.97, 140.35
- Pivot resistance is noted at 142.92, 143.54, 144.2
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 142.88 |
| Previous Daily Low | 141.59 |
| Previous Weekly High | 142.34 |
| Previous Weekly Low | 139.93 |
| Previous Monthly High | 142.86 |
| Previous Monthly Low | 137.39 |
| Daily Fibonacci 38.2% | 142.39 |
| Daily Fibonacci 61.8% | 142.08 |
| Daily Pivot Point S1 | 141.63 |
| Daily Pivot Point S2 | 140.97 |
| Daily Pivot Point S3 | 140.35 |
| Daily Pivot Point R1 | 142.92 |
| Daily Pivot Point R2 | 143.54 |
| Daily Pivot Point R3 | 144.20 |
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