As the Asian session begins, the EUR/JPY prints a minimal advance of 0.10% after traders failed to conquer the Tenkan-Sen line at 158.18, as the pair
dropped below 158.00. At the time of writing, the cross-currency pair exchanges hands at 157.71, set to finish the week with losses.perspective, the EUR/JPY is still upward biased, but the recent dip below the Tenkan-Sen could pave the way to test lower prices. Next support emerges at the August 23 swing low of 156.87, followed by the top of the Ichimoku Cloud at 155.65/75. On the flip side, if buyers want to resume the uptrend, the pair must pierce the Tenkan-Sen at 158.
Short term, the EUR/JPY hourly chart portrays the pair as neutral biased, with risks seen slightly tilted to the upside, as the pair achieved two successive series of higher highs and higher lows. Nevertheless, buyers must lift the pair above the August 23 high of 158.37 to reinforce the upside bias.
On its way towards that level, the EUR/JPY must surpass the Tenkan Sen at 157.74, the R1 daily pivot point at 158.04, and the top of the Kumo at around 158.20. Conversely, if the cross drops below the confluence of the Kijun-Sen and the daily pivot point at 157.57, the pair would cre-test the weekly low of 156.86. But first, sellers must reclaim the bottom of the Kumo at 157.40, followed by the 157.00 figure.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/JPY Price Analysis: Stays defensive around 158.00 with rising wedge, Eurozone PMI in the spotlightEUR/JPY bears flirt with the short-term key support around 158.10 amid the initial hours of Wednesday’s European session as markets await the first re
Read more »
EUR/JPY dives to two-week low, around 157.25 area after disappointing Euro Zone PMIsThe EUR/JPY cross extends the overnight retracement slide from the vicinity of mid-159.00s, or its highest level since September 2008 and remains unde
Read more »
EUR/JPY Price Analysis: Interim support comes near 156.00EUR/JPY accelerates its downside momentum and drops to multi-day lows in the 157.00 neighbourhood on Wednesday. In case the corrective retracement gat
Read more »
EUR/JPY sticks to modest recovery gains above mid-157.00s, lacks follow-throughThe EUR/JPY cross attracts some buying during the Asian session on Thursday and moves away from over a two-week low, around the 156.85 region touched
Read more »
EUR/JPY Price Analysis: Bulls continue to target 160.00EUR/JPY regains upside traction following two consecutive daily pullbacks on Thursday. If the rebound gathers extra impulse, the cross should challeng
Read more »
Joe Biden appeared 'totally responsive' to Hunter's Burisma concerns amid new report, Sen. Johnson saysA new report claiming Biden's overtures toward ousting a Ukrainian prosecutor contradicted Obama-Biden administration policy came under scrutiny from Sen. Ron Johnson.
Read more »