EUR/JPY Price Analysis: Subduead around 139.00 as a death-cross looms

EUR/JPY is range-bound around 139.00 awaiting the release of Japanese CPI.
EUR/JPY Price Analysis: Bullish above 140.00; otherwise, exposed to selling pressure.

Christian Borjon Valencia FXStreet

The EUR/JPY finished Thursday’s session flat and remained trading sideways ahead of December’s release of the Japanese Consumer Price Index (CPI). As the Asian session begins, the EUR/JPY is trading at 139.06, almost flat.

EUR/JPY Price Analysis: Technical outlook

The EUR/JPY daily chart portrays the pair as neutral-downward biased, as it remains below the daily Exponential Moving Averages (EMAs). Also, the 20-day EMA at 140.29 is about to cross below the 200-day EMA at 140.14, which would resume the downtrend in the near term. Solid support is found around the last week’s low of 138.01, tested on Thursday, though the EUR/JPY quickly rebounded towards the 139.00 figure.

Oscillators-wise, the Relative Strength Index (RSI) in the bearish territory is flat, while the Rate of Change (RoC), portrays buyers losing momentum. Therefore, the EUR/JPY remains sideways, awaiting a possible breakout.

The EUR/JPY first support would be 138.00. A breach of the latter would send the pair aiming towards 137.38, the YTD low, followed by the September 26 pivot low at 137.36. on the upside, the EUR/JPY first resistance would be the 200-day EMA at 140.14, which, once cleared, could expose additional resistance levels. The 20-day EMA at 140.30 would be put in play, followed by the 141.00 figure.

EUR/JPY Key Technical Levels

EUR/JPY

Overview
Today last price	139.1
Today Daily Change	0.06
Today Daily Change %	0.04
Today daily open	139.04

Trends
Daily SMA20	140.51
Daily SMA50	142.6
Daily SMA100	143.13
Daily SMA200	140.74

Levels
Previous Daily High	141.69
Previous Daily Low	138.18
Previous Weekly High	142.86
Previous Weekly Low	138.01
Previous Monthly High	146.73
Previous Monthly Low	138.8
Daily Fibonacci 38.2%	140.35
Daily Fibonacci 61.8%	139.52
Daily Pivot Point S1	137.58
Daily Pivot Point S2	136.12
Daily Pivot Point S3	134.07
Daily Pivot Point R1	141.1
Daily Pivot Point R2	143.15
Daily Pivot Point R3	144.61

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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