- 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
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
