EUR/JPY Price Analysis: Stalls after rally, dips to 164.00

EUR/JPY near 164.00, undecided post-Tenkan-sen rebound.
Buyers claiming 164.82 and the pair may aim for 165.00.
Falling below 164.00 could lead to 163.21, then 162.78 Kijun-Sen.

Christian Borjon Valencia FXStreet

The EUR/JPY is virtually unchanged during the North American session, after hitting a two day high of 164.40, though sellers dragged the exchange rate near the Tuesday open. Hence, the cross pair trades at 164.09, almost flat.

EUR/JPY Price Analysis: Technical outlook

After falling from the year-to-date (YTD) high of 165.33, the EUR/JPY found support at around the Tenkan-sen level at 163.12 on Monday, sponsoring a leg-up toward the 164.00 area. Further upside is seen if traders clear the March 22 high of 164.82, ahead of the 165.00 figure.

On the flip side, if the pair extends its losses below 16400, look for a fall to the Tenkan-Sen at 163.21, followed by the 163.00 mark. A breach of the latter will exacerbate a dip to the Kijun-Sen at 162.78.

EUR/JPY Price Action – Daily Chart

EUR/JPY

Overview
Today last price	164.08
Today Daily Change	-0.01
Today Daily Change %	-0.01
Today daily open	164.09

Trends
Daily SMA20	162.71
Daily SMA50	161.66
Daily SMA100	160.42
Daily SMA200	158.96

Levels
Previous Daily High	164.21
Previous Daily Low	163.32
Previous Weekly High	165.36
Previous Weekly Low	161.95
Previous Monthly High	163.72
Previous Monthly Low	158.08
Daily Fibonacci 38.2%	163.87
Daily Fibonacci 61.8%	163.66
Daily Pivot Point S1	163.54
Daily Pivot Point S2	162.98
Daily Pivot Point S3	162.64
Daily Pivot Point R1	164.43
Daily Pivot Point R2	164.77
Daily Pivot Point R3	165.32

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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