EUR/JPY Price Analysis: Bulls recapture the 20 and 200 DMAs, eyeing a weekly close above 140.50

- Advertisement -
  • EUR/JPY bounced from daily lows at 139.03 and reached a daily high of 141.19 before losing strength.
  • The recovery in EUR/JPY and the achievement of a daily close above the 200 day EMA keeps the bulls hoping for a price rally.

The euro (EUR) picks up strongly on Friday, ahead of the weekend, while the japanese yen (JPY) weakens after the monetary policy meeting of the Bank of Japan ( BOJ ), which maintains its dovish stance, and the Yield Curve Control (YCC). Therefore, EUR/JPY gains traction and trades at 140.63, above its opening price by more than 1%.

EUR/JPY Price Analysis: Technical Insights

The daily chart of EUR/JPY shows the pair recapturing the 20 and 200 day EMAs, each at 140.45 and 140.15, respectively, keeping bulls hoping for higher prices. Furthermore, the Relative Strength Index (RSI) is heading north and is about to turn bullish, further consolidating the neutral-bullish bias, while the Rate of Change (RoC) portrays strong bullish sentiment in the pair.

- Advertisement -

Therefore, the path of least resistance for the EUR/JPY is bullish. Therefore, the first resistance for EUR/JPY would be the Jan 20 high at 141.19, followed by the Jan 18 daily high at 141.68, and the figure at 142.00. As an alternate scenario, if EUR/JPY fails to break above 141.00 it could pave the way lower. Key support levels for the EUR/JPY would be the psychological level of 140.00, followed by the January 20 daily low at 139.03, and then the January 19 low at 137.91.

Key Technical Levels for EUR/JPY


Last price today 140.67
Today I change daily 1.59
today’s daily change 1.14
today’s daily opening 139.08
daily SMA20 140.45
daily SMA50 142.5
daily SMA100 143.13
daily SMA200 140.76
previous daily high 139.42
previous daily low 137.92
Previous Weekly High 142.86
previous weekly low 138.01
Previous Monthly High 146.73
Previous monthly minimum 138.8
Fibonacci daily 38.2 138.85
Fibonacci 61.8% daily 138.49
Daily Pivot Point S1 138.19
Daily Pivot Point S2 137.3
Daily Pivot Point S3 136.69
Daily Pivot Point R1 139.7
Daily Pivot Point R2 140.31
Daily Pivot Point R3 141.21
- Advertisement -

Source: Fx Street

- Advertisement -


Please enter your comment!
Please enter your name here

Hot Topics

Related Articles