#EURJPY @ 148.164 Albeit retracing, the is still upward biased, with bulls eyeing 150.00. (Pivot Orderbook analysis)
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER 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_level1)]
- Albeit retracing, the EUR/JPY is still upward biased, with bulls eyeing 150.00.
- Oscillators flashed that EUR/JPY’s buyers are losing momentum.
- The EUR/JPY could be headed for a pullback before rallying towards 150.00.
The pair currently trades last at 148.164.
The previous day high was 147.57 while the previous day low was 146.4. The daily 38.2% Fib levels comes at 147.12, expected to provide support. Similarly, the daily 61.8% fib level is at 146.85, expected to provide support.
The EUR/JPY reached a fresh 9-year high at around 148.47, as buyers reclaimed the 148.00 area. However, it has retraced below the last year’s high of 148.40 and meanders above the 148.00 figure as the Asian session begins. At the time of writing, the EUR/JPY trades at 148.21.
The pair remains upward-biased, as shown by the daily chart. Although the EUR/JPY’s uptrend is intact, oscillators have begun to shift neutral, as shown by the Relative Strength Index (RSI). The RSI exited below the 70 area, while the Rate of Change (RoC) indicates the last cycle high was achieved on lower volatility levels, meaning buyers could lose momentum.
If EUR/JPY breaks the YTD high at 148.47, the next resistance would be 149.00. A decisive break could push prices towards the 150.00 figure, followed by the next cycle high on September 22, 2008, at 154.83.
Conversely, if the EUR/JPY drops below the 148.00 figure, the risk of forming a bearish-engulfing candlestick pattern increases. Therefore, the EUR/JPY first support would be the April 24 low of 147.12, followed by the last cycle low of 146.40, before testing the 20-day EMA at 146.01.
Technical Levels: Supports and Resistances
EURJPY currently trading at 148.19 at the time of writing. Pair opened at 147.4 and is trading with a change of 0.54 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 148.19 |
| 1 | Today Daily Change | 0.79 |
| 2 | Today Daily Change % | 0.54 |
| 3 | Today daily open | 147.40 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 145.17, 50 SMA 143.98, 100 SMA @ 142.78 and 200 SMA @ 142.28.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 145.17 |
| 1 | Daily SMA50 | 143.98 |
| 2 | Daily SMA100 | 142.78 |
| 3 | Daily SMA200 | 142.28 |
The previous day high was 147.57 while the previous day low was 146.4. The daily 38.2% Fib levels comes at 147.12, expected to provide support. Similarly, the daily 61.8% fib level is at 146.85, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 146.68, 145.96, 145.52
- Pivot resistance is noted at 147.85, 148.29, 149.01
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 147.57 |
| Previous Daily Low | 146.40 |
| Previous Weekly High | 147.86 |
| Previous Weekly Low | 146.40 |
| Previous Monthly High | 145.67 |
| Previous Monthly Low | 138.83 |
| Daily Fibonacci 38.2% | 147.12 |
| Daily Fibonacci 61.8% | 146.85 |
| Daily Pivot Point S1 | 146.68 |
| Daily Pivot Point S2 | 145.96 |
| Daily Pivot Point S3 | 145.52 |
| Daily Pivot Point R1 | 147.85 |
| Daily Pivot Point R2 | 148.29 |
| Daily Pivot Point R3 | 149.01 |
[/s2If]
Nehcap EA FIX downloadThe NEHCAP EA is high quality professional trading system geared to generate returns without using GRID or martingales.Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.The system is trading live: LIVE ACCOUNT TRACKING Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
