EUR/JPY Price Analysis: Bulls consolidate below 133.90 near 50-hour SMA

EUR/JPY consolidates gains in the Asian session.
Cross looks for additional gains above 133.90.
MACD remains in oversold zone and hints at upside momentum.

Rekha Chauhan Independent Analyst

EUR/JPY prints some modest gains on Thursday in the Asian session. The pair opened lower, albeit recovered swiftly and touched the intraday high at 133.89.

At the time of writing, EUR/JPY trades at 133.84, up 0.07% for the day.

EUR/JPY hourly chart

On the hourly chart, the EUR/JPY cross-currency pair consolidates below the 133.90 mark. The pair seems to move in the 133.70- 133.90 trading band of late. If price sustained over the session’s high, then it has the potential to rise up to the 133.95 and 134.10 horizontal resistance levels.

The Moving Average Convergence (MACD) indicator reads below the central line, with bullish crossover. Any uptick in MACD would bring fresh buying opportunities for EUR/JPY bulls. The next area of resistance would be the high of June 1 in the vicinity of 134.20 area.

Alternatively, a failure to hold onto the intraday low at 133.80 could trigger selling pressure in the pair, for the first target at the 133.75 horizontal support level.

Market participants would be encouraged to aim at the 133.55 horizontal support level followed by the May 27 low at 132.93.

EUR/JPY Additional Levels

EUR/JPY

Overview
Today last price	133.86
Today Daily Change	0.07
Today Daily Change %	0.05
Today daily open	133.79

Trends
Daily SMA20	132.9
Daily SMA50	131.4
Daily SMA100	129.6
Daily SMA200	127.2

Levels
Previous Daily High	134.07
Previous Daily Low	133.65
Previous Weekly High	134.06
Previous Weekly Low	132.52
Previous Monthly High	134.06
Previous Monthly Low	130.98
Daily Fibonacci 38.2%	133.91
Daily Fibonacci 61.8%	133.81
Daily Pivot Point S1	133.6
Daily Pivot Point S2	133.41
Daily Pivot Point S3	133.18
Daily Pivot Point R1	134.02
Daily Pivot Point R2	134.26
Daily Pivot Point R3	134.45

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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