EUR/JPY Price Analysis: Breaches Tenkan-Sen, as sellers eye 160.00

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  • EUR/JPY continues weekly drop, struggling to surpass the 162.00 resistance.
  • Break below Tenkan-Sen signals decline; 160.18 now pivotal for potential rebound.
  • Recovery depends on regaining Tenkan-Sen, eyeing 161.24; downside risks include supports at 159.34, 158.71.

The EUR/JPY remains under pressure extending its losses in the week for the fourth consecutive day, down 0.26% and exchanging hands at 160.13 after hitting a daily high of 160.97.

The cross-pair was bullish biased, but after facing strong resistance at 162.00, has shifted neutral. The EUR/JPY break below the Tenkan-Sen, which lies at 160.22, exacerbated a drop toward a daily low of 159.69. Nevertheless, as the pair has edged toward the confluence of the Tenkan-Sen and the January 11 high at around 160.18, previous support turned resistance has opened the door for further upside.

If buyers regain the Tenkan-Sen, the next resistance would be the November 21 swing low of 161.24 before the EUR/JPY aims toward 162.00.

On the other hand, if sellers keep the exchange rate below the Tenkan-Sen, downside risks are seen below 160.00. The next support would be the Senkou Span A at 159.34, followed by the 159.00 figure. The next stop would be the Senkou Span B at 158.71.

EUR/JPY Price Action – Daily Chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price 160.13
Today Daily Change -0.47
Today Daily Change % -0.29
Today daily open 160.6
 
Trends
Daily SMA20 158.83
Daily SMA50 159
Daily SMA100 158.84
Daily SMA200 156.32
 
Levels
Previous Daily High 161.21
Previous Daily Low 159.98
Previous Weekly High 161.87
Previous Weekly Low 158.63
Previous Monthly High 161.78
Previous Monthly Low 153.17
Daily Fibonacci 38.2% 160.45
Daily Fibonacci 61.8% 160.74
Daily Pivot Point S1 159.99
Daily Pivot Point S2 159.37
Daily Pivot Point S3 158.76
Daily Pivot Point R1 161.21
Daily Pivot Point R2 161.82
Daily Pivot Point R3 162.44

 

 

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