• EUR/JPY sees a 0.19% rise, maintaining a position below the YTD high of 164.30 amid US and Japan holidays.
  • For further bullish momentum, EUR/JPY needs to breach 164.00; downside risks include a potential drop towards 161.25 support.

The EUR/JPY rose a decent 0.19% yet remains well below the latest cycle and a year-to-date (YTD) high at 164.30 on Thursday. At the time of writing, the pair exchanges hands at 163.09 amid thin liquidity conditions due to holidays in the US and Japan.

From a technical perspective, the EUR/JPY daily chart portrays the pair as neutral to upward biased, with price action remaining above the Ichimoku Cloud (Kumo) and above the Tenkan-Sen level at 162.77. Although the bias is bullish, the Tenkan and Kijun-Sen lines turned flat, suggesting consolidation lies ahead.

For a bullish continuation, the EUR/JPY needs to remain above 163.00 and test the 164.00 figure, ahead of threatening the year-to-date (YTD) high at 164.30. On the other hand, if the cross drops below the Tenkan-Sen at 162.77, that would exacerbate a drop to the Senkou Span A at 161.88. The next demand zone would be 161.25, the November 21 daily and last cycle low.

EUR/JPY Price Analysis – Daily Chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price 163.09
Today Daily Change 0.19
Today Daily Change % 0.12
Today daily open 162.9
 
Trends
Daily SMA20 161.28
Daily SMA50 159.17
Daily SMA100 158.18
Daily SMA200 153.02
 
Levels
Previous Daily High 162.94
Previous Daily Low 161.6
Previous Weekly High 164.31
Previous Weekly Low 161.54
Previous Monthly High 160.85
Previous Monthly Low 154.39
Daily Fibonacci 38.2% 162.43
Daily Fibonacci 61.8% 162.11
Daily Pivot Point S1 162.01
Daily Pivot Point S2 161.13
Daily Pivot Point S3 160.67
Daily Pivot Point R1 163.36
Daily Pivot Point R2 163.82
Daily Pivot Point R3 164.71

 

 

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