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EUR/JPY Price Analysis: Corrective Movement Stopped

  • EUR/JPY reaches new highs above 164.00.
  • A corrective movement is expected in the short term.

He EUR/JPY It moves further north of the 164.00 level and hits new yearly highs on Thursday.

On the short-term horizon, the crossover could continue to advance. Conversely, the breakout of the 2023 high at 164.30 (November 16) is expected to face the next significant resistance level no earlier than the 2008 high at 169.96 (July 23).

Meanwhile, the daily RSI remains within the overbought zone, near 75, opening the door for a possible short-term corrective move.

For now, the long-term positive outlook for the cross seems favored as long as it remains above the 200-day SMA, today at 152.58.

EUR/JPY daily chart


Latest price today 164.11
Today I change daily 47
Today’s daily variation -0.04
Today’s daily opening 164.18
daily SMA20 160.3
daily SMA50 158.69
SMA100 daily 157.9
SMA200 daily 152.5
Previous daily high 164.2
Previous daily low 163.07
Previous weekly high 161.95
Previous weekly low 160.15
Previous Monthly High 160.85
Previous monthly low 154.39
Daily Fibonacci 38.2 163.77
Fibonacci 61.8% daily 163.5
Daily Pivot Point S1 163.43
Daily Pivot Point S2 162.69
Daily Pivot Point S3 162.3
Daily Pivot Point R1 164.57
Daily Pivot Point R2 164.95
Daily Pivot Point R3 165.7

Source: Fx Street

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