#EURJPY @ 159.271 weakens amid the geopolitical tensions in the Middle East. (Pivot Orderbook analysis)
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- EUR/JPY weakens amid the geopolitical tensions in the Middle East.
- The cross maintains a positive outlook above the key EMA; RSI indicator stands in a bullish zone above the 50 midline.
- The key resistance level will emerge at 160.00; the initial support level is seen at 158.60.
The pair currently trades last at 159.271.
The previous day high was 160.18 while the previous day low was 159.38. The daily 38.2% Fib levels comes at 159.69, expected to provide resistance. Similarly, the daily 61.8% fib level is at 159.88, expected to provide resistance.
The EUR/JPY cross trades on a softer note for the second consecutive day during the early European session on Friday. The risk-off mood due to a further escalation of geopolitical tensions in the Middle East boosts the safe-haven currency like the Japanese Yen (JPY) and acts as a headwind for the EUR/JPY cross. The cross currently trades near 159.30, down 0.15% for the day.
Technically, EUR/JPY keeps the bullish vibe unchanged as the cross holds above the key 100-hour Exponential Moving Averages (EMA) on the four-hour chart. The upward momentum is also supported by the 14-day Relative Strength Index (RSI) which stands above 50 midline, indicating the path of least resistance level is to the upside.
The key resistance level will emerge near a high of January 10 at the 160.00 psychological round mark. Any follow-through buying above the latter will see a rally to the upper boundary of Bollinger Band at 160.62. Further north, the next upside barrier is seen near a high of December 1 at 161.77.
On the downside, the initial support level for EUR/JPY is seen near a high of January 4 at 158.60. The additional downside filter to watch is the 50-EMA at 158.25, followed by the 100-EMA at 157.82. A breach of this level will see a drop to the lower limit of the Bollinger Band at 157.09.
Technical Levels: Supports and Resistances
EURJPY currently trading at 159.32 at the time of writing. Pair opened at 159.53 and is trading with a change of -0.13 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 159.32 |
| 1 | Today Daily Change | -0.21 |
| 2 | Today Daily Change % | -0.13 |
| 3 | Today daily open | 159.53 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 157.14, 50 SMA 159.24, 100 SMA @ 158.65 and 200 SMA @ 155.68.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 157.14 |
| 1 | Daily SMA50 | 159.24 |
| 2 | Daily SMA100 | 158.65 |
| 3 | Daily SMA200 | 155.68 |
The previous day high was 160.18 while the previous day low was 159.38. The daily 38.2% Fib levels comes at 159.69, expected to provide resistance. Similarly, the daily 61.8% fib level is at 159.88, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 159.21, 158.9, 158.41
- Pivot resistance is noted at 160.01, 160.5, 160.81
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 160.18 |
| Previous Daily Low | 159.38 |
| Previous Weekly High | 159.00 |
| Previous Weekly Low | 155.07 |
| Previous Monthly High | 161.78 |
| Previous Monthly Low | 153.17 |
| Daily Fibonacci 38.2% | 159.69 |
| Daily Fibonacci 61.8% | 159.88 |
| Daily Pivot Point S1 | 159.21 |
| Daily Pivot Point S2 | 158.90 |
| Daily Pivot Point S3 | 158.41 |
| Daily Pivot Point R1 | 160.01 |
| Daily Pivot Point R2 | 160.50 |
| Daily Pivot Point R3 | 160.81 |
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