EUR/JPY Price Analysis: Corrective move overdue


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  • EUR/JPY clinches new highs past 164.00.
  • A corrective move appears on the cards near term.

EUR/JPY advances further north of the 164.00 level and prints new yearly highs on Thursday.

Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 164.30 (November 16) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23).

In the meantime, the daily RSI remains well within the overbought territory near 75, opening the door to a potential near-term corrective move.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.58.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 164.11
Today Daily Change 47
Today Daily Change % -0.04
Today daily open 164.18
 
Trends
Daily SMA20 160.3
Daily SMA50 158.69
Daily SMA100 157.9
Daily SMA200 152.5
 
Levels
Previous Daily High 164.2
Previous Daily Low 163.07
Previous Weekly High 161.95
Previous Weekly Low 160.15
Previous Monthly High 160.85
Previous Monthly Low 154.39
Daily Fibonacci 38.2% 163.77
Daily Fibonacci 61.8% 163.5
Daily Pivot Point S1 163.43
Daily Pivot Point S2 162.69
Daily Pivot Point S3 162.3
Daily Pivot Point R1 164.57
Daily Pivot Point R2 164.95
Daily Pivot Point R3 165.7

 

 

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