• The EUR/JPY rises as the Asian session begins after losing 0.53% on Thursday.
  • EUR/JPY Price Analysis: After breaking below the rising wedge, a fall toward 142.50s is on the cards.

The Euro (EUR) fell sharply against the Japanese Yen (JPY), on Thursday, amidst an improved market sentiment, which usually benefits the shared currency. However, traders seeking safety bolstered the latter, sending the EUR/JPY sliding toward the 50-day Exponential Moving Average (EMA) around 144.15. At the time of writing, the EUR/JPY is trading at 144.19, below its opening price by 0.08%.

EUR/JPY Price Analysis: Technical outlook

From a daily chart perspective, the EUR/JPY remains neutral-to-upward biased. However, it should be noted that the rising wedge formed in the EUR/JPY chart was broken on Thursday, which could exacerbate a fall toward the November 11 daily low at 142.54. Another factor to consider is the Relative Strength Index (RSI) turned bearish; hence the EUR/JPY path of least resistance is downward biased.

The EUR/JPY first support would be the 50-day Exponential Moving Average (EMA) at 144.15. A breach of the latter will expose the 144.00 figure, followed by the November 15 daily low at 143.35, ahead of the 142.54 targets. As an alternate scenario, the EUR/JPY first resistance would be the 145.00 mark, which, once cleared, will expose the 146.00 figure. Break above will send the EUR/JPY climbing towards the November 9 swing high at 147.11.

EUR/JPY Key Technical Levels

EUR/JPY

Overview
Today last price 144.41
Today Daily Change -0.69
Today Daily Change % -0.48
Today daily open 145.1
 
Trends
Daily SMA20 145.46
Daily SMA50 144.16
Daily SMA100 141.43
Daily SMA200 138.66
 
Levels
Previous Daily High 146.14
Previous Daily Low 144.64
Previous Weekly High 145.55
Previous Weekly Low 143.35
Previous Monthly High 148.4
Previous Monthly Low 140.9
Daily Fibonacci 38.2% 145.21
Daily Fibonacci 61.8% 145.56
Daily Pivot Point S1 144.45
Daily Pivot Point S2 143.79
Daily Pivot Point S3 142.95
Daily Pivot Point R1 145.95
Daily Pivot Point R2 146.79
Daily Pivot Point R3 147.45

 

 

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