EUR/JPY Price Analysis: Extra consolidation appears likely


  • EUR/JPY fades the earlier bull run to the 145.20 region on Wednesday.
  • Next on the upside comes the 2023 high near 145.60.

EUR/JPY now alternates gains with losses below the 145.00 mark after the initial move to 145.20 lacked follow through on Wednesday.

Further side-lined trading seems likely for the time being. However, the breakout of this theme should see the next hurdle at the 2023 high at 145.56 (March 2). Beyond this level, the cross could dispute the December 2022 top at 146.72 (December 15) prior to the 2022 high at 148.40 (October 21 2022).

In the meantime, while above the 200-day SMA, today at 141.73, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 144.67
Today Daily Change 72
Today Daily Change % -0.02
Today daily open 144.7
 
Trends
Daily SMA20 143.34
Daily SMA50 141.79
Daily SMA100 143.17
Daily SMA200 141.73
 
Levels
Previous Daily High 145.44
Previous Daily Low 144.56
Previous Weekly High 145.57
Previous Weekly Low 143.57
Previous Monthly High 145.47
Previous Monthly Low 139.55
Daily Fibonacci 38.2% 144.9
Daily Fibonacci 61.8% 145.11
Daily Pivot Point S1 144.36
Daily Pivot Point S2 144.02
Daily Pivot Point S3 143.48
Daily Pivot Point R1 145.24
Daily Pivot Point R2 145.78
Daily Pivot Point R3 146.12

 

 

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