- EUR/JPY’s advance is moderated by the proximity to the year-to-date high of 160.84, and a break above could signal further gains.
- The threat of Japanese intervention has receded, giving room for the pair’s upward trajectory.
- Key support levels to watch include the Tenkan-Sen at 159.26 and a further confluence of support around 157.59/69.
The pair EUR/JPY extends its gains to two consecutive days, staying above 160.00 heading into the weekend, amid optimistic sentiment in the markets. Economic data shows a slowdown in hiring as US Nonfarm Payrolls for October disappointed forecasts, spurring risk appetite in financial markets. At the time of writing, the pair is trading at 160.25, with a gain of 0.29%.
Although the pair is trading near cycle highs, it has yet to surpass the year-to-date high (160.84), which, once surpassed, could open the door to further rises. In that case, a pullback could justify long traders as threats of Japanese intervention subside. A break of this last level would expose the 161.00 area.
On the contrary, if EUR/JPY falls below the Tenkan-Sen at 159.26, the trend would tilt downwards. Next support would be the confluence of the October 30 low and the Tenkan-Sen around 157.59/69, followed by the bottom of the Ichimoku Cloud at 155.55.
EUR/JPY Daily Chart
Key technical levels for EUR/JPY
EUR/JPY
Overview | |
---|---|
Latest price today | 160.27 |
Today I change daily | 0.47 |
Today’s daily variation | 0.29 |
Today’s daily opening | 159.8 |
Trends | |
---|---|
daily SMA20 | 158.47 |
daily SMA50 | 158.05 |
SMA100 daily | 157.4 |
SMA200 daily | 151.58 |
Levels | |
---|---|
Previous daily high | 160.08 |
Previous daily low | 159.07 |
Previous weekly high | 159.92 |
Previous weekly low | 157.88 |
Previous Monthly High | 160.85 |
Previous monthly low | 154.39 |
Daily Fibonacci 38.2 | 159.7 |
Fibonacci 61.8% daily | 159.46 |
Daily Pivot Point S1 | 159.22 |
Daily Pivot Point S2 | 158.64 |
Daily Pivot Point S3 | 158.21 |
Daily Pivot Point R1 | 160.24 |
Daily Pivot Point R2 | 160.67 |
Daily Pivot Point R3 | 161.25 |
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.