[vc_row full_width=”stretch_row” css=”.vc_custom_1531732107238{background-color: #fcc118 !important;}”][vc_column]

[/vc_column][/vc_row][vc_row css=”.vc_custom_1531730959461{border-bottom-width: 1px !important;background-color: #f9fafb !important;border-bottom-color: #eef3f7 !important;border-bottom-style: solid !important;}”][vc_column css=”.vc_custom_1531891416301{margin-bottom: 0px !important;}”][bsfp-cryptocurrency style=”widget-6″ align=”auto” columns=”2″ scheme=”light” coins=”top-x-coins” coins-count=”8″ coins-selected=”” currency=”USD” title=”Cryptocurrencies” show_title=”0″ icon=”” heading_color=”” heading_style=”default” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ css=”.vc_custom_1531730265600{margin-bottom: 0px !important;}” custom-css-class=”” custom-id=””][/vc_column][/vc_row]

Subdued around 143.40s, as bulls prepare for an assault to 145.00

0


Share:

  • The EUR/JPY is registering gains of 2.22% in the week after facing solid resistance around 143.60.
  • EUR/JPY Price Analysis: In consolidation within a 130 pip range circa the 143.00 psychological barriers.

The EUR/JPY hit a fresh weekly high at 143.67 but reversed some of those gains, resting comfortably above Thursday’s high ahead of the weekend. Therefore, the EUR/JPY exchanges hands at 143.40 after dropping to a low of 142.91.

EUR/JPY began the week at around the 200-day Exponential Moving Average (EMA) at 140.32 before rallying sharply towards the 142.38 Tuesday high. Since that day, the EUR/JPY consolidated at around the 142.35-143.65 area, unable to crack either side of the range.

On Friday, the EUR/JPY pierced the top of the range, but buyers unable to hold to its gains, caused a retracement in the pair. Therefore, the EUR/JPY neutral-to-upward bias remains intact.

If the EUR/JPY breaks the top of the range, the next supply area will be 144.00. Once broken, the EUR/JPY might rally and test a five-month-old downslope resistance trendline passing nearby 144.50/60. That could propel EUR/JPY bulls toward the psychological 145.00 barrier.

Contrarily a EUR/JPY fall below 142.30, and the pair might test the 142.00 figure. A breach of the latter will open the door for a move lower to the 141.70/80 area, with the 20, 50, and 100-day EMAs resting inside the range, followed by a fall to the 200*day EMA at 140.44.

EUR/JPY Daily chart

EUR/JPY Key technical levels

 

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More