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EUR/JPY Price Analysis: Gain momentum, eyes key resistance levels in risk-on environment

  • The EUR/JPY pair advances for the second consecutive day and is trading around 162.27, reflecting a rise of 0.25% in a favorable environment of risk appetite in the markets.
  • The pair is showing a bullish bias on the daily chart, with a significant resistance level at the August 2008 high at 165.60.
  • On the downside, initial support is identified at the Tenkan-Sen level at 160.72, followed by the Senkou Span A at 160.07 and the Kijun-Sen at 159.44.

The pair EUR/JPY continues to advance for the second day in a row, gaining traction towards 162.50 in the final operations of the North American session, amid a boost in risk appetite and despite threats of intervention by the Japanese authorities. At the time of writing, the EUR/JPY pair is trading at 162.27, with an advance of 0.25%.

From a daily chart perspective, EUR/JPY remains biased higher, with the next resistance level around the August 2008 high at 165.60. A break of the latter would expose the July 2008 high at 169.97, before challenging 170.00.

On the opposite side, the first support for EUR/JPY would be the Tenkan-Sen level at 160.72 before challenging the Senkou Span A at 160.07 and the Kijun-Sen at 159.44.

EUR/JPY Price Analysis – Daily Chart

EUR/JPY technical levels


Latest price today 162.27
Today I change daily 0.35
Today’s daily variation 0.22
Today’s daily opening 161.92
daily SMA20 159.52
daily SMA50 158.38
SMA100 daily 157.73
SMA200 daily 152.17
Previous daily high 161.95
Previous daily low 161.36
Previous weekly high 161.95
Previous weekly low 160.15
Previous Monthly High 160.85
Previous monthly low 154.39
Daily Fibonacci 38.2 161.72
Fibonacci 61.8% daily 161.58
Daily Pivot Point S1 161.53
Daily Pivot Point S2 161.15
Daily Pivot Point S3 160.94
Daily Pivot Point R1 162.12
Daily Pivot Point R2 162.33
Daily Pivot Point R3 162.71

Source: Fx Street

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