Categories: Markets

EUR/JPY reached highs since early September, around 158.90

EUR/JPY reached highs since early September, around 158.90
  • The EUR/JPY pair reached a daily high of 158.92 and then stabilized at 158.60.
  • Indicators suggest buyers have the upper hand in the short term, but momentum is weak.

The bulls of the EUR/JPY They intervened on Thursday and advanced to multi-month highs around 158.90. The daily chart suggests that the technical bias is neutral to bullish as the bulls still have work to do and the momentum does not appear to be enough to trigger the next bullish leg. Neutrality is also given by the pair’s sideways trading since September.

The daily Relative Strength Index (RSI) is comfortably positioned in the positive territory above its midline and has a slight northward slope, complemented by a positive signal from the Moving Average Divergence (MACD), which is showing red bars. flat, a sign of growing bullish momentum. Furthermore, the pair is above the 20, 100, 200-day SMA, highlighting the continued bullish dominance on a broader scale. On the four-hour chart, both indicators support the idea that the bullish momentum is somewhat weak, as they turned flat into positive territory.

Support levels: 157.50 (20-day SMA), 157.00, 156.50.
Resistance levels: 159.00, 159.50, 160.00.

EUR/JPY Daily Chart

EUR/JPY

Overview
Latest price today 158.64
Today Daily Change 0.62
Today’s daily variation 0.39
Today’s daily opening 158.02
Trends
daily SMA20 157.51
daily SMA50 157.94
SMA100 daily 156.45
SMA200 daily 150.54
Levels
Previous daily high 158.54
Previous daily low 157.69
Previous weekly high 158.61
Previous weekly low 156.51
Previous Monthly High 158.66
Previous monthly low 156.58
Daily Fibonacci 38.2 158.02
Fibonacci 61.8% daily 158.22
Daily Pivot Point S1 157.63
Daily Pivot Point S2 157.23
Daily Pivot Point S3 156.77
Daily Pivot Point R1 158.48
Daily Pivot Point R2 158.94
Daily Pivot Point R3 159.34

Source: Fx Street