EURJPY @ 14765.0 – Support/Resistance analysis: Price Analysis: Interim top near 138.40?
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- EUR/JPY attempts a mild rebound following Wednesday’s drop.
- The August top at 138.39 caps the upside for the time being.
The pair currently trades last at 14765.0.
The previous day high was 138.4 while the previous day low was 136.62. The daily 38.2% Fib levels comes at 137.3, expected to provide support. Similarly, the daily 61.8% fib level is at 137.72, expected to provide support.
EUR/JPY bounces off weekly lows in the 136.60/50 band and reclaims part of the ground lost on Wednesday’s strong retracement.
So far, the August recovery appears to have met some initial resistance in the 138.40 zone (August 10). If the cross regains upside traction and surpasses this level, it could then extend the move to, initially, the 55-day SMAs, today at 139.06.
While above the 200-day SMA at 133.87, the outlook for the cross is expected to remain constructive. This contention zone also appears underpinned by the proximity of the August low at 133.39 (August 2).
Technical Levels: Supports and Resistances
EURJPY currently trading at 136.98 at the time of writing. Pair opened at 136.9 and is trading with a change of 0.06 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 136.98 |
| 1 | Today Daily Change | 55.00 |
| 2 | Today Daily Change % | 0.06 |
| 3 | Today daily open | 136.90 |
The pair is trading below its 20 Daily moving average @ 138.17, below its 50 Daily moving average @ 139.85 , below its 100 Daily moving average @ 138.07 and above its 200 Daily moving average @ 133.88
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 138.17 |
| 1 | Daily SMA50 | 139.85 |
| 2 | Daily SMA100 | 138.07 |
| 3 | Daily SMA200 | 133.88 |
The previous day high was 138.4 while the previous day low was 136.62. The daily 38.2% Fib levels comes at 137.3, expected to provide support. Similarly, the daily 61.8% fib level is at 137.72, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 136.21, 135.52, 134.43
- Pivot resistance is noted at 137.99, 139.09, 139.77
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 138.40 |
| Previous Daily Low | 136.62 |
| Previous Weekly High | 137.76 |
| Previous Weekly Low | 133.40 |
| Previous Monthly High | 142.43 |
| Previous Monthly Low | 135.55 |
| Daily Fibonacci 38.2% | 137.30 |
| Daily Fibonacci 61.8% | 137.72 |
| Daily Pivot Point S1 | 136.21 |
| Daily Pivot Point S2 | 135.52 |
| Daily Pivot Point S3 | 134.43 |
| Daily Pivot Point R1 | 137.99 |
| Daily Pivot Point R2 | 139.09 |
| Daily Pivot Point R3 | 139.77 |
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