#EURJPY @ 140.696 alternates gains with losses around 140.50 midweek. (Pivot Orderbook analysis)

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• EUR/JPY alternates gains with losses around 140.50 midweek.
• The 143.00 region remains a tough near-term resistance zone.

The pair currently trades last at 140.696.

The previous day high was 142.44 while the previous day low was 140.29. The daily 38.2% Fib levels comes at 141.11, expected to provide resistance. Similarly, the daily 61.8% fib level is at 141.62, expected to provide resistance.

EUR/JPY navigates within a narrow range in the mid-140.00s following Tuesday’s sharp sell-off.

While the cross is expected to maintain the side-lined theme in the short term, the 143.00 area remains a solid barrier for bulls. This key resistance zone also appears reinforced by the 100-day SMA, today at 142.89

If the cross breaches the 200-day SMA at 141.00 on a sustainable fashion, the outlook is expected to shift to bearish.

Technical Levels: Supports and Resistances

EURJPY currently trading at 140.55 at the time of writing. Pair opened at 140.6 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 @ 140.76, 50 SMA 141.68, 100 SMA @ 142.94 and 200 SMA @ 141.02.

The previous day high was 142.44 while the previous day low was 140.29. The daily 38.2% Fib levels comes at 141.11, expected to provide resistance. Similarly, the daily 61.8% fib level is at 141.62, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 139.78, 138.96, 137.62
• Pivot resistance is noted at 141.93, 143.26, 144.08

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