The EURJPY currency pair has reached new highs for the year, just slightly below the 158.00 level.
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- EUR/JPY clinches new YTD highs just below the 158.00 mark.
The pair currently trades last at 157.757.
The previous day high was 157.94 while the previous day low was 156.39. The daily 38.2% Fib levels comes at 157.35, expected to provide support. Similarly, the daily 61.8% fib level is at 156.98, expected to provide support.
EUR/JPY comes under pressure soon after hitting new highs for the year in levels just shy of 158.00 the figure on Wednesday.
Considering the ongoing price action, further gains appear on the cards in the very near term. That said, the continuation of the uptrend should meet the next significant resistance not before the weekly high of 163.09 (August 22 2008).
The current extreme overbought conditions of the cross, however, are indicative that a corrective decline should not be ruled out at some point in the short-term horizon.
So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 144.98.
Technical Levels: Supports and Resistances
EURJPY currently trading at 157.85 at the time of writing. Pair opened at 157.92 and is trading with a change of -0.04 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 157.85 |
| 1 | Today Daily Change | 56.00 |
| 2 | Today Daily Change % | -0.04 |
| 3 | Today daily open | 157.92 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 152.59, 50 SMA 150.28, 100 SMA @ 146.93 and 200 SMA @ 144.94.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 152.59 |
| 1 | Daily SMA50 | 150.28 |
| 2 | Daily SMA100 | 146.93 |
| 3 | Daily SMA200 | 144.94 |
The previous day high was 157.94 while the previous day low was 156.39. The daily 38.2% Fib levels comes at 157.35, expected to provide support. Similarly, the daily 61.8% fib level is at 156.98, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 156.9, 155.87, 155.35
- Pivot resistance is noted at 158.44, 158.97, 159.99
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 157.94 |
| Previous Daily Low | 156.39 |
| Previous Weekly High | 156.93 |
| Previous Weekly Low | 154.05 |
| Previous Monthly High | 151.62 |
| Previous Monthly Low | 146.14 |
| Daily Fibonacci 38.2% | 157.35 |
| Daily Fibonacci 61.8% | 156.98 |
| Daily Pivot Point S1 | 156.90 |
| Daily Pivot Point S2 | 155.87 |
| Daily Pivot Point S3 | 155.35 |
| Daily Pivot Point R1 | 158.44 |
| Daily Pivot Point R2 | 158.97 |
| Daily Pivot Point R3 | 159.99 |
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