EUR/JPY Price Analysis: Gains momentum, eyes key resistance levels on risk-on mood

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  • EUR/JPY advances for the second consecutive day, trading around 162.27, reflecting a 0.25% rise amid a favorable risk-on market environment.
  • The pair shows an upward bias on the daily chart, with a significant resistance level at the August 2008 high of 165.60.
  • On the downside, initial support is identified at the Tenkan-Sen level of 160.72, followed by the Senkou Span A at 160.07 and the Kijun-Sen at 159.44.

EUR/JPY continues to advance for the second straight day, gaining traction toward 162.50 in late trading during the North American session, amid a risk-on impulse and despite Japanese authorities' intervention threats. At the time of writing, the EUR/JPY is exchanging hands at 162.27 up 0.25%.

From a daily chart perspective, the EUR/JPY remains upward biased, with the next resistance level emerging at around the August 2008 high of 165.60. A breach of the latter would expose the July 2008 high of 169.97, ahead of challenging the 170.00.

On the opposite flip side, the EUR/JPY first support would be the Tenkan-Sen level at 160.72 before challenging the Senkou Span A at 160.07 and the Kijun-Sen at 159.44.

EUR/JPY Price Analysis – Daily Chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price 162.27
Today Daily Change 0.35
Today Daily Change % 0.22
Today daily open 161.92
 
Trends
Daily SMA20 159.52
Daily SMA50 158.38
Daily SMA100 157.73
Daily SMA200 152.17
 
Levels
Previous Daily High 161.95
Previous Daily Low 161.36
Previous Weekly High 161.95
Previous Weekly Low 160.15
Previous Monthly High 160.85
Previous Monthly Low 154.39
Daily Fibonacci 38.2% 161.72
Daily Fibonacci 61.8% 161.58
Daily Pivot Point S1 161.53
Daily Pivot Point S2 161.15
Daily Pivot Point S3 160.94
Daily Pivot Point R1 162.12
Daily Pivot Point R2 162.33
Daily Pivot Point R3 162.71

 

 

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