EURJPY Price Analysis: Further consolidation appears likely below 147.00

EURJPY adds to Tuesday’s decline, always below the 147.00 region.
Extra range bound should not be ruled out in the near term.

Pablo Piovano FXStreet

EURJPY loses further momentum following the rejection from the 147.00 neighbourhood earlier in the week.

The cross seems to have embarked on a consolidative phase, with the upper end of the range limited by the 147.00 area. A breakout of the latter should open the door to extra gains to, initially, the 2022 top at 148.40 (October 21) ahead of the round level at 150.00.

In the short term the upside momentum is expected to persist while above the October lows near 141.00.

In the longer run, while above the key 200-day SMA at 137.96, the constructive outlook is expected to remain unchanged.

EURJPY daily chart

EUR/JPY

Overview
Today last price	146.55
Today Daily Change	49
Today Daily Change %	-0.08
Today daily open	146.67

Trends
Daily SMA20	146.08
Daily SMA50	143.52
Daily SMA100	141.09
Daily SMA200	137.91

Levels
Previous Daily High	147
Previous Daily Low	145.99
Previous Weekly High	147.76
Previous Weekly Low	144.04
Previous Monthly High	148.4
Previous Monthly Low	140.9
Daily Fibonacci 38.2%	146.37
Daily Fibonacci 61.8%	146.61
Daily Pivot Point S1	146.11
Daily Pivot Point S2	145.55
Daily Pivot Point S3	145.11
Daily Pivot Point R1	147.11
Daily Pivot Point R2	147.56
Daily Pivot Point R3	148.12

Author

Pablo Piovano

FXStreet

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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