EUR/JPY Price Analysis: Consolidates inside the Kumo, though tilted to the downside

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  • EUR/JPY stalls at 156.60, encapsulated within the Kumo, with a discernible tilt towards a downward trajectory.
  • A potential breach below Senkou Span B at 155.58 could trigger a descent towards the October 3 low of 154.34.
  • Conversely, surpassing the Kumo top at 157.00 may pave the way to challenge the October 2 high at 158.47.

The EUR/JPY trades sideways as Friday’s Asian session commences, following Thursday’s price action, in which indecision was the main driver that printed a doji. At the time of writing, the EUR/JPY exchanges hand at 156.60, almost unchanged.

Consolidation is the name of the game, inside the Kumo, capped on the downside by the Kijun-Sen at 156.49. However, due to the latest drop on Tuesday, the pair is neutral to slightly downwards, and once it breaks below the Senkou Span B at 155.58,  that would exacerbate a drop to test the October 3 low of 154.34, before slumping toward the July 28 cycle low of 151.40.

Conversely, if EUR/JPY climbs past the top of the Kumo at 157.00, that would open the door to test the October 2 daily high at 158.47 before challenging the 159.00 mark.

EUR/JPY Price Action – Daily chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price 156.6
Today Daily Change -0.06
Today Daily Change % -0.04
Today daily open 156.66
 
Trends
Daily SMA20 157.57
Daily SMA50 157.67
Daily SMA100 155.66
Daily SMA200 149.69
 
Levels
Previous Daily High 156.77
Previous Daily Low 155.83
Previous Weekly High 158.34
Previous Weekly Low 156.71
Previous Monthly High 158.66
Previous Monthly Low 156.58
Daily Fibonacci 38.2% 156.41
Daily Fibonacci 61.8% 156.19
Daily Pivot Point S1 156.07
Daily Pivot Point S2 155.48
Daily Pivot Point S3 155.13
Daily Pivot Point R1 157.01
Daily Pivot Point R2 157.36
Daily Pivot Point R3 157.95

 

 

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