#EURJPY @ 146.785 needs to break below the April 25 low of 146.28 for further downside action. (Pivot Orderbook analysis)
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- EUR/JPY needs to break below the April 25 low of 146.28 for further downside action.
- For a bullish scenario, the EUR/JPY needs to reclaim 147.00 to pave the way towards re-testing 148.00.
The pair currently trades last at 146.785.
The previous day high was 148.47 while the previous day low was 147.12. The daily 38.2% Fib levels comes at 147.96, expected to provide resistance. Similarly, the daily 61.8% fib level is at 147.64, expected to provide resistance.
A bearish-engulfing candle pattern emerges at the EUR/JPY daily chart after the pair hit a new multi-year high at 148.63. However, the EUR/JPY collapsed by more than 150 pips, and as the Asian session begins, the EUR/JPY is trading at 146.79.
After Tuesday’s price action, the EUR/JPY is set for a deeper pullback. However, the pair must break below the April 25 low of 146.28 before challenging the 20-day Exponential Moving Average (EMA) at 145.95. As of writing, the EUR/JPY is testing the December 15 daily high at 146.72, previous resistance that turned support, and once it is broken, it could pave the way to the 146.00 mark, ahead of the 20-day EMA.
The next demand area would be the March 31 swing high-turned-support at 145.67, followed by the 145.00 figure, ahead of the 50-day EMA at 144.50.
Conversely, if EUR/JPY buyers reclaim 147.00, that could pave the way towards re-testing 148.00 before challenging the YTD high.
Technical Levels: Supports and Resistances
EURJPY currently trading at 146.81 at the time of writing. Pair opened at 148.29 and is trading with a change of -1.0 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 146.81 |
| 1 | Today Daily Change | -1.48 |
| 2 | Today Daily Change % | -1.00 |
| 3 | Today daily open | 148.29 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 145.48, 50 SMA 144.11, 100 SMA @ 142.83 and 200 SMA @ 142.32.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 145.48 |
| 1 | Daily SMA50 | 144.11 |
| 2 | Daily SMA100 | 142.83 |
| 3 | Daily SMA200 | 142.32 |
The previous day high was 148.47 while the previous day low was 147.12. The daily 38.2% Fib levels comes at 147.96, expected to provide resistance. Similarly, the daily 61.8% fib level is at 147.64, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 147.45, 146.61, 146.1
- Pivot resistance is noted at 148.8, 149.31, 150.15
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 148.47 |
| Previous Daily Low | 147.12 |
| Previous Weekly High | 147.86 |
| Previous Weekly Low | 146.40 |
| Previous Monthly High | 145.67 |
| Previous Monthly Low | 138.83 |
| Daily Fibonacci 38.2% | 147.96 |
| Daily Fibonacci 61.8% | 147.64 |
| Daily Pivot Point S1 | 147.45 |
| Daily Pivot Point S2 | 146.61 |
| Daily Pivot Point S3 | 146.10 |
| Daily Pivot Point R1 | 148.80 |
| Daily Pivot Point R2 | 149.31 |
| Daily Pivot Point R3 | 150.15 |
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