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EUR/JPY Price Analysis: Support remains near 154.30

  • EUR/JPY regains the upside and surpasses 157.00.
  • The ongoing consolidation is expected to persist near term.

EUR/JPY quickly leaves behind Thursday’s inconclusive price action and resumes the upside bias beyond the 157.00 barrier at the end of the week.

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 149.81.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price157.31
Today Daily Change92
Today Daily Change %0.54
Today daily open156.46
 
Trends
Daily SMA20157.51
Daily SMA50157.74
Daily SMA100155.73
Daily SMA200149.77
 
Levels
Previous Daily High156.79
Previous Daily Low156.09
Previous Weekly High158.34
Previous Weekly Low156.71
Previous Monthly High158.66
Previous Monthly Low156.58
Daily Fibonacci 38.2%156.36
Daily Fibonacci 61.8%156.52
Daily Pivot Point S1156.1
Daily Pivot Point S2155.75
Daily Pivot Point S3155.41
Daily Pivot Point R1156.8
Daily Pivot Point R2157.14
Daily Pivot Point R3157.5

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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