EUR/JPY Price Analysis: Further consolidation in the pipeline

EUR/JPY trades in an inconclusive fashion around 157.00.
Extra range bound looks likely for the time being.

Pablo Piovano FXStreet

EUR/JPY trades in a consolidative range around the 157.00 region following Friday’s strong gains.

In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a visit to the so far monthly high of 158.65 (September 13) prior to the 2023 top at 159.76 (August 30), which precedes the key round level at 160.00.

On the downside, the so far monthly low of 154.34 (October 3) emerges as the initial contention in case of bearish attempts.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 149.90.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	157.11
Today Daily Change	81
Today Daily Change %	-0.63
Today daily open	158.1

Trends
Daily SMA20	157.51
Daily SMA50	157.79
Daily SMA100	155.82
Daily SMA200	149.85

Levels
Previous Daily High	158.26
Previous Daily Low	156.46
Previous Weekly High	158.48
Previous Weekly Low	154.39
Previous Monthly High	158.66
Previous Monthly Low	156.58
Daily Fibonacci 38.2%	157.57
Daily Fibonacci 61.8%	157.15
Daily Pivot Point S1	156.95
Daily Pivot Point S2	155.8
Daily Pivot Point S3	155.14
Daily Pivot Point R1	158.76
Daily Pivot Point R2	159.42
Daily Pivot Point R3	160.56

Author

Pablo Piovano

FXStreet

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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