EUR/JPY Price Analysis: Struggles at solid resistance nearby 141.65, as a doji emerges

The EUR/JPY lost almost 0.05% after hitting a high at around 141.60s.
EUR/JPY Price Analysis: To remain sideways, ahead of the ECB’s decision.

Christian Borjon Valencia FXStreet

The EUR/JPY trims some of its earlier gains after hitting a daily high of 141.61, shy of the 100-day Exponential Moving Average (EMA) at 141.79, and drops towards the 141.40 area, holding to its gains. At the time of writing, the EUR/JPY is trading at 141.47, above its opening price by a slight margin of 0.02%.

EUR/JPY Price Analysis: Technical outlook

During the last seven days, the EUR/JPY pair has been unable to reach new highs, above the January 25 daily high at 142.29, exacerbating a consolidation within the 20 and 50-day EMA. Backed by the Relative Strength Index (RSI) and the Rate of Change (RoC) almost flat at neutral levels, the EUR/JPY pair would remain trendless, awaiting the Europen Central Bank (ECB) monetary policy on Thursday.

A bullish scenario would trigger once the EUR/JPY breaks above the 50-day EMA At 141.68, closely followed by the 100-day EMA at 141.79. A breach of those two EMAs will set the EUR/JPY to test the January 11 daily high of 142.85 and the 143.00 figure.

On the other hand, the EUR/JPY would resume its bearish bias, below the 20-day EMA at 140.98. Once cleared, the 200-day EMA at 140.25 would be tested by EUR bears, followed by a dip towards the 140.00 mark.

EUR/JPY Key Technical Levels

EUR/JPY

Overview
Today last price	141.36
Today Daily Change	-0.14
Today Daily Change %	-0.10
Today daily open	141.5

Trends
Daily SMA20	140.52
Daily SMA50	142.05
Daily SMA100	143.07
Daily SMA200	140.88

Levels
Previous Daily High	141.98
Previous Daily Low	140.56
Previous Weekly High	142.3
Previous Weekly Low	140.47
Previous Monthly High	146.73
Previous Monthly Low	138.8
Daily Fibonacci 38.2%	141.44
Daily Fibonacci 61.8%	141.1
Daily Pivot Point S1	140.71
Daily Pivot Point S2	139.92
Daily Pivot Point S3	139.29
Daily Pivot Point R1	142.13
Daily Pivot Point R2	142.77
Daily Pivot Point R3	143.56

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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