#EURJPY @ 147.039 extends the strong rally past the 147.00 region. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• EUR/JPY extends the strong rally past the 147.00 region.
• Further up aligns the 2022 high north of the 148.00 barrier.

The pair currently trades last at 147.039.

The previous day high was 147.16 while the previous day low was 146.24. The daily 38.2% Fib levels comes at 146.81, expected to provide support. Similarly, the daily 61.8% fib level is at 146.59, expected to provide support.

EUR/JPY extends the needle-like uptrend and surpasses the key 147.00 hurdle fort het first time since late October 2022.

Considering the ongoing price action, further gains in the cross remain in store for the time being. That said, the continuation of the upside momentum could extend further and challenge the 2022 peak at 148.40 (October 21) sooner rather than later.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.07.

Technical Levels: Supports and Resistances

EURJPY currently trading at 147.11 at the time of writing. Pair opened at 146.97 and is trading with a change of 0.1 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 143.78, 50 SMA 143.36, 100 SMA @ 142.56 and 200 SMA @ 142.06.

The previous day high was 147.16 while the previous day low was 146.24. The daily 38.2% Fib levels comes at 146.81, expected to provide support. Similarly, the daily 61.8% fib level is at 146.59, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 146.42, 145.87, 145.5
• Pivot resistance is noted at 147.34, 147.71, 148.25

[/s2If]
Join Our Telegram Group