EUR/JPY Price Analysis: Extends losses to two days, diving below 158.00

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  • EUR/JPY slips amid a risk-on mood, as it remains below the Ichimoku Cloud
  • Further downside is seen below the Tenkan and Kijun Sen levels as the pair aims toward 156.00.
  • The EUR/JPY could shift bullish if buyers reclaim 159.00.

The EUR/JPY begins the week on a lower note, posting losses of 0.17% on Monday amid a risk-on impulse. The cross-currency pair's upward move was quickly rejected at a multi-month support trendline turned resistance, opening the door for a pullback. Therefore, the pair is trading at 157.92 as Tuesday’s Asian session begins, almost flat.

The cross-pair base shifted bearish after diving below the Ichimoku Cloud (Kumo). That along with the cross of the Tenkan-Sen below the Kijun-Sen, has kept the EUR/JPY capped below the 159.00 figure. If sellers would like to extend the downtrend, they must drag prices below the Tenkan-Sen at 157.03, followed by the Kijun-Sen at 156.48, as the pair extends its losses toward 156.00.

On the other hand, if the EUR/JPY reverses its course and achieves a daily close above 158.50, that could open the door for a test of 159.00. On further strength, the pair would aim towards the bottom of the Kumo at 159.30, ahead of challenging 160.00.

EUR/JPY Price Action – Daily Chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price 157.95
Today Daily Change -0.40
Today Daily Change % -0.25
Today daily open 158.35
 
Trends
Daily SMA20 156.67
Daily SMA50 159.3
Daily SMA100 158.62
Daily SMA200 155.38
 
Levels
Previous Daily High 159
Previous Daily Low 158.05
Previous Weekly High 159
Previous Weekly Low 155.07
Previous Monthly High 161.78
Previous Monthly Low 153.17
Daily Fibonacci 38.2% 158.64
Daily Fibonacci 61.8% 158.41
Daily Pivot Point S1 157.93
Daily Pivot Point S2 157.52
Daily Pivot Point S3 156.99
Daily Pivot Point R1 158.88
Daily Pivot Point R2 159.41
Daily Pivot Point R3 159.83

 

 

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