EUR/JPY Price Analysis: Closes week higher despite daily losses, buyers eye 163.00

EUR/JPY finishes week with a 0.66% gain, reflecting persistent JPY softness against a backdrop of economic data.
Technical analysis shows YTD high at 163.21, with support and resistance levels indicating potential upward momentum.
Key technical levels outlined for potential reversals or further advances in the EUR/JPY pair's trajectory.

Christian Borjon Valencia FXStreet

The EUR/JPY wraps up Friday session with losses of 0.02% but is set to finish the week with 0.66% gains, courtesy of overall Japanese Yen (JPY) weakness, as economic data doesn’t justify the Bank of Japan (BoJ) finishing negative interest rates. At the time of writing, the cross exchanges hands at 162.86, virtually unchanged.

From a technical standpoint, the pair printed a new year-to-date (YTD) high at 163.21 but failed to cling to gains above the 163.00 figure. That opened the door for a pullback, capped at around the day’s low of 162.64, which keeps buyers hopeful of higher prices. Achieving a daily close above 163.00 would open the door to testing the November 27 high at 163.72, ahead of the 164.00 mark.

Conversely, if sellers step in, they would clash with the Tenkan-Sen, first support at 162.11. the next support will emerge at January’s 19 high turned support at 161.87, followed by the Senkou Span A at 161.44.

EUR/JPY Price Action – Daily Chart

EUR/JPY TECHNICAL LEVELS

Overview
Today last price	162.88
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	162.88

Trends
Daily SMA20	160.78
Daily SMA50	159.27
Daily SMA100	159.52
Daily SMA200	157.63

Levels
Previous Daily High	163.47
Previous Daily Low	162.47
Previous Weekly High	161.96
Previous Weekly Low	160.38
Previous Monthly High	161.87
Previous Monthly Low	155.07
Daily Fibonacci 38.2%	163.09
Daily Fibonacci 61.8%	162.85
Daily Pivot Point S1	162.41
Daily Pivot Point S2	161.94
Daily Pivot Point S3	161.41
Daily Pivot Point R1	163.41
Daily Pivot Point R2	163.94
Daily Pivot Point R3	164.41

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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