EUR/JPY Price Analysis: Wavers around 161.00, sellers eyeing Tenkan-Sen

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  • EUR/JPY near 161.00, down 0.13% as Euro faces pressure before ECB decision in mixed markets.
  • Despite Ichimoku Cloud break, bulls struggle at 161.24 resistance; eyes on 162.00, then 163.00 if surpassed.
  • Below 161.00, EUR/JPY risk extends; next supports at Tenkan-Sen (160.21), 160.00, 159.25, 158.71.

The EUR/JPY seesaws at around the 161.00 figure in the mid-North American session, though it’s trading below its opening price by 0.13% and, at the time of writing, exchanges hands at 160.95.

Market mood is mixed, with two out of three US equity indices in the green, with the Dow Jones being the outlier, down by 0.32%. Nevertheless, the Euro’s weakness keeps the shared currency pressured ahead of Thursday's European Central Bank (ECB) monetary policy decision

The EUR/JPY is consolidating at around the current week's highs after buyers lifted the pair above the Ichimoku Cloud (Kumo), usually a sign that bulls are gathering momentum. Nevertheless, they had failed to edge above the November 21 swing low turned resistance at 161.24, so they could challenge the 162.00 figure. Once those two levels are cleared, the next stop would be the 163.00 figure, followed by the November 27 high at 163.72.

On the other hand, a daily close below 161.00 would open the door for further losses. The first support would be the Tenkan-Sen at 160.21, followed by the 160.00 figure. A breach of the latter, and the pair will extend its losses to the Senkou Span A at 159.25, followed by the Senkou Span B at 158.71.

EUR/JPY Price Action – Daily Chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price 160.9
Today Daily Change -0.24
Today Daily Change % -0.15
Today daily open 161.14
 
Trends
Daily SMA20 158.49
Daily SMA50 159.13
Daily SMA100 158.8
Daily SMA200 156.19
 
Levels
Previous Daily High 161.57
Previous Daily Low 160.76
Previous Weekly High 161.87
Previous Weekly Low 158.63
Previous Monthly High 161.78
Previous Monthly Low 153.17
Daily Fibonacci 38.2% 161.07
Daily Fibonacci 61.8% 161.26
Daily Pivot Point S1 160.74
Daily Pivot Point S2 160.34
Daily Pivot Point S3 159.92
Daily Pivot Point R1 161.55
Daily Pivot Point R2 161.97
Daily Pivot Point R3 162.37

 

 

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