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EUR/JPY Price Analysis: Extra range bound appears likely

  • EUR/JPY trades with small gains in a tight range above 157.00.
  • Initial resistance comes at the monthly peaks near 158.50.

EUR/JPY leaves behind Monday’s small losses and edges a tad higher well north of the 157.00 hurdle on Tuesday.

In the meantime, the cross continues to face some side-lined trading prior to the potential resumption of the uptrend. That said, a minor hurdle emerges at the so far monthly highs around 158.50 (September 5-7) ahead of the 2023 peak at 159.76 (August 30) and before the key round level at 160.00. The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 148.50.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price157.57
Today Daily Change57
Today Daily Change %0.07
Today daily open157.46
 
Trends
Daily SMA20158.29
Daily SMA50157.14
Daily SMA100154.11
Daily SMA200148.47
 
Levels
Previous Daily High158.23
Previous Daily Low156.58
Previous Weekly High158.52
Previous Weekly Low157
Previous Monthly High159.76
Previous Monthly Low155.53
Daily Fibonacci 38.2%157.21
Daily Fibonacci 61.8%157.6
Daily Pivot Point S1156.62
Daily Pivot Point S2155.78
Daily Pivot Point S3154.98
Daily Pivot Point R1158.26
Daily Pivot Point R2159.07
Daily Pivot Point R3159.91

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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