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EUR/JPY Price Analysis: Euro hits 5-week highs, challenges 118.00 level

  • EUR/JPY is trading at its highest since early March 2020. 
  • EUR/JPY is challenging the May’s highs near the 117.90 resistance.
 

EUR/JPY four-hour chart

 
EUR/JPY is challenging the May’s highs near the 117.90 resistance while the market is trading above the main SMAs on the four-hour chart. It is unclear if the bullish bounce is sustainable since the overall trend is down. A consolidation appears likely in the medium term. Resistances can be seen near the 117.90 and the 118.70 levels initially. On the other hand, support is seen near the 117.00 and 116.50 levels. 
 
 
 
Resistance: 117.90, 118.70, 119.55
Support: 117.00, 116.50, 116.00
 

Additional key levels

EUR/JPY

Overview
Today last price 117.84
Today Daily Change 0.67
Today Daily Change % 0.57
Today daily open 117.17
 
Trends
Daily SMA20 116.17
Daily SMA50 117.51
Daily SMA100 119.04
Daily SMA200 119.31
 
Levels
Previous Daily High 117.24
Previous Daily Low 115.79
Previous Weekly High 116.86
Previous Weekly Low 115.3
Previous Monthly High 119.04
Previous Monthly Low 115.45
Daily Fibonacci 38.2% 116.69
Daily Fibonacci 61.8% 116.34
Daily Pivot Point S1 116.23
Daily Pivot Point S2 115.28
Daily Pivot Point S3 114.78
Daily Pivot Point R1 117.68
Daily Pivot Point R2 118.18
Daily Pivot Point R3 119.13

 

 

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