EUR/JPY Price Analysis: Consolidates around the 155.50 region amid lack of clear direction

EUR/JPY remains steady and consolidates in a narrow range on Monday.
Next resistance level is seen at 156.15, an initial support appears near 155.40.
The Relative Strength Index (RSI) indicates the non-directional movement in the cross.

Lallalit Srijandorn FXStreet

The EUR/JPY pair lacks any firm directional bias and oscillates in the 155.30-156.15 range early Monday. The cross currently trades near 155.50, down 0.19% on the day.

According to the four-hour chart, EUR/JPY holds above the 100- and 200-day Exponential Moving Averages (EMA), meaning the path of least resistance for the EUR/JPY appears to the upside.

That being said, any meaningful follow-through buying past 156.15 (High of July 14) will see a rally to 157.15 (High of July 6). Further north, the cross will challenge the next hurdle at 158.00, the intersection of the psychological round mark and a high of July 3.

On the flip side, EUR/JPY will meet initial support of 155.40 (100-hour EMA) en route to 154.20 (200-hour EMA). A decisive break below the latter would expose 153.40 (Low of July 12).

It’s worth noting that the Relative Strength Index (RSI) is located in the 40-60 zone, indicating a non-directional movement in the pair.

EUR/JPY four-hour chart

EUR/JPY

Overview
Today last price	155.54
Today Daily Change	-0.31
Today Daily Change %	-0.20
Today daily open	155.85

Trends
Daily SMA20	156.28
Daily SMA50	152.34
Daily SMA100	148.72
Daily SMA200	145.92

Levels
Previous Daily High	156.14
Previous Daily Low	154.17
Previous Weekly High	156.67
Previous Weekly Low	153.43
Previous Monthly High	158
Previous Monthly Low	148.62
Daily Fibonacci 38.2%	155.39
Daily Fibonacci 61.8%	154.92
Daily Pivot Point S1	154.63
Daily Pivot Point S2	153.42
Daily Pivot Point S3	152.67
Daily Pivot Point R1	156.6
Daily Pivot Point R2	157.35
Daily Pivot Point R3	158.57

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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