EUR/JPY falls for the fifth day, holds above weekly low

The EUR/JPY is trading below the Tenkan-Sen at 162.77, which indicates a neutral to bearish bias.
A break below the Senkou-Span A at 161.82 could trigger more selling pressure, targeting the Kijun-Sen at 160.99 and the October 30 low at 157.69.
A recovery above the November 21 high at 162.43 could signal a reversal of the downtrend, challenging the Tenkan-Sen at 162.77.

Christian Borjon Valencia FXStreet

EUR/JPY retreats for the third time in the week, five consecutive days, though it remains above the current week low of 161.24 and trades at 161.82 as Wednesday’s Asian session begins.

The EUR/JPY is neutral to upward biased, subject to further losses after the cross slipped below the Tenkan-Sen at 162.77. Since then, the pair fell toward the 161.00 handle, with sellers eyeing a break beneath the Senkou-Span A at 161.82. If the pair breaches the latter, sellers would have two technical signals to open fresh shorts positions, aimed to drag prices below the Kijun-Sen at 160.99, toward challenging the October 30 swing low at 157.69.

On the other hand, if the EUR/JPY aims and closes at around November 21, high at 162.43, that would put in play a challenge of the Tenkan-Sen at 162.77.

EUR/JPY Price Analysis – Daily Chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price	161.83
Today Daily Change	-0.48
Today Daily Change %	-0.30
Today daily open	162.31

Trends
Daily SMA20	160.91
Daily SMA50	159
Daily SMA100	158.07
Daily SMA200	152.83

Levels
Previous Daily High	163.56
Previous Daily Low	161.78
Previous Weekly High	164.31
Previous Weekly Low	161.54
Previous Monthly High	160.85
Previous Monthly Low	154.39
Daily Fibonacci 38.2%	162.46
Daily Fibonacci 61.8%	162.88
Daily Pivot Point S1	161.54
Daily Pivot Point S2	160.76
Daily Pivot Point S3	159.75
Daily Pivot Point R1	163.32
Daily Pivot Point R2	164.33
Daily Pivot Point R3	165.1

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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