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EUR/JPY Price Analysis: Decent support around 157.00

  • EUR/JPY puts aside two consecutive daily retracements and retests 158.00.
  • There seems to be a decent containment zone around 157.00.

He USD/JPY regains some bullish traction and reverses two consecutive sessions of losses earlier in the week.

Continuation of the uptrend could see the cross challenge the recent 2023 high near 159.76 (August 30) ahead of the key round level at 160.00. The breakout of the latter should not see any noteworthy resistance until the 2008 high of 169.96 (23 Jul).

Meanwhile, renewed selling pressure is expected to find initial support at the lows around 157.00 (Sep 1), an area bolstered by the temporary 55-day SMA.

For now, the long-term positive outlook for the cross looks favored as long as it remains above the 200-day SMA, today at 148.05.

EUR/JPY daily chart


Last price today 158.18
Today I change daily 92
today’s daily variation 0.39
today’s daily opening 157.57
daily SMA20 158.29
daily SMA50 157.07
daily SMA100 153.47
daily SMA200 148.02
previous daily high 157.97
previous daily low 157.06
Previous Weekly High 159.76
previous weekly low 157.06
Previous Monthly High 159.76
Previous monthly minimum 155.53
Fibonacci daily 38.2 157.4
Fibonacci 61.8% daily 157.62
Daily Pivot Point S1 157.1
Daily Pivot Point S2 156.62
Daily Pivot Point S3 156.19
Daily Pivot Point R1 158.01
Daily Pivot Point R2 158.44
Daily Pivot Point R3 158.92

Source: Fx Street

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