EURJPY is trading in a range between 157.00 and 158.50, and there is a tendency for the pair to move higher due to ECB President Christine Lagarde’s optimistic stance on inflation.
…
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)]
- EUR/JPY consolidates within the 157.00/158.50 range, with an upward bias influenced by ECB President Christine Lagarde’s hawkish tone on inflation.
The pair currently trades last at 158.009.
The previous day high was 158.05 while the previous day low was 157.11. The daily 38.2% Fib levels comes at 157.69, expected to provide support. Similarly, the daily 61.8% fib level is at 157.47, expected to provide support.
As the New York session closes, the Euro (EUR) recovers some ground against the Japanese Yen (JPY) after neutral to hawkish remarks by the European Central Bank (ECB) President Christine Lagarde emphasized the ECB’s commitment to inflation. Hence, the EUR/JPY pair resumes its uptrend, set to finish Friday’s session with gains of 0.31%.
The EUR/JPY daily chart remains upward biased but is set to finish the week almost flat as the pair consolidates within the 157.00/158.50 area. Should be said that Friday’s uptrend was capped by the Tenkan-Sen line at 158.18, opening the door for a new trading range if the cross tumbles below 157.00. In that event, the pair’s new trading range would be the August 3 low at 155.53 and the August 23 low at 156.87.
Upside risks would emerge if the cross breaches 158.18. Once cleared, bulls would regain control, setting their eyes in the next target, the year-to-date (YTD) high at 159.49. Conversely, if sellers stepped in, achieving a decisive break below 158.00 could exacerbate a drop toward the 157.00 mark, followed by the August 23 low of 156.86.
Technical Levels: Supports and Resistances
EURJPY currently trading at 158.05 at the time of writing. Pair opened at 157.67 and is trading with a change of 0.24 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 158.05 |
| 1 | Today Daily Change | 0.38 |
| 2 | Today Daily Change % | 0.24 |
| 3 | Today daily open | 157.67 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 157.69, 50 SMA 156.74, 100 SMA @ 152.71 and 200 SMA @ 147.61.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 157.69 |
| 1 | Daily SMA50 | 156.74 |
| 2 | Daily SMA100 | 152.71 |
| 3 | Daily SMA200 | 147.61 |
The previous day high was 158.05 while the previous day low was 157.11. The daily 38.2% Fib levels comes at 157.69, expected to provide support. Similarly, the daily 61.8% fib level is at 157.47, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 157.17, 156.67, 156.23
- Pivot resistance is noted at 158.11, 158.54, 159.04
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 158.05 |
| Previous Daily Low | 157.11 |
| Previous Weekly High | 159.34 |
| Previous Weekly Low | 157.66 |
| Previous Monthly High | 158.05 |
| Previous Monthly Low | 151.41 |
| Daily Fibonacci 38.2% | 157.69 |
| Daily Fibonacci 61.8% | 157.47 |
| Daily Pivot Point S1 | 157.17 |
| Daily Pivot Point S2 | 156.67 |
| Daily Pivot Point S3 | 156.23 |
| Daily Pivot Point R1 | 158.11 |
| Daily Pivot Point R2 | 158.54 |
| Daily Pivot Point R3 | 159.04 |
[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.
- EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
- EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group
