EUR/JPY Price Analysis: Experiences minor pullback below 156.00, but uptrend remains in play

EUR/JPY registers losses below the 156.00 area due to mixed market sentiment, but the overall uptrend remains.
The bearish-harami candlestick pattern suggests a potential pullback while maintaining the upward bias.
EUR/JPY’s key support levels are the Tenkan-Sen line at 155.26, the Senkou Span A at 155.01, and the Kijun-Sen levels at 154.76.
For buyers to regain control, EUR/JPY must not achieve a daily close below 156.00. Resistance levels lie at the July 19 high of 157.20, and (YTD) high at 157.99.

Christian Borjon Valencia FXStreet

Late in the North American session, the EUR/JPY registered losses below the 156.00 area amid a mixed market sentiment triggered by upbeat US economic data, underpinning safe-haven currencies in the FX space. At the time of writing, the EUR/JPY exchanges hand at 155.99, after hitting a daily high of 156.62.

EUR/JPY Price Analysis: Technical outlook

The EUR/JPY uptrend remains in play, but today’s price action, coupled with Wednesday, is forming a two-candlestick chart pattern called ‘bearish-harami,’ which suggests the EUR/JPY could be ready for a pullback while maintaining its upward bias.

It should be said that on the EUR/JPY way down, the Tenkan-Sen would be the first support at 155.26. A breach of the latter will expose the Senkou Span A at 155.01, followed by the Kijun-Sen levels emerging at 154.76.

On the flip side, for EUR/JPY buyers to regain control, they must keep prices from achieving a daily close below 156.00. Once done, buyers could remain hopeful for higher prices, with the first resistance being the July 19 high at 157.20, followed by the year-to-date (YTD) high at 157.99.

EUR/JPY Price Action – Daily chart

EUR/JPY

Overview
Today last price	156
Today Daily Change	-0.37
Today Daily Change %	-0.24
Today daily open	156.37

Trends
Daily SMA20	156.41
Daily SMA50	152.81
Daily SMA100	149.06
Daily SMA200	146.13

Levels
Previous Daily High	157.21
Previous Daily Low	155.84
Previous Weekly High	156.67
Previous Weekly Low	153.43
Previous Monthly High	158
Previous Monthly Low	148.62
Daily Fibonacci 38.2%	156.68
Daily Fibonacci 61.8%	156.36
Daily Pivot Point S1	155.74
Daily Pivot Point S2	155.11
Daily Pivot Point S3	154.38
Daily Pivot Point R1	157.1
Daily Pivot Point R2	157.84
Daily Pivot Point R3	158.46

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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