The EUR/JPY extended its gains for the sixth straight day on Monday and is up 0.24%.
EUR/JPY extends its gains for the sixth consecutive day and nearing the YTD high of 171.58. Technical outlook shows bullish momentum, with RSI indicating potential for further gains. Key resistance levels are YTD high at 171.58, 172.00, 172.50, and 173.00. Key support levels would be 171.00, the confluence of Tenkan, Kijun-Sen, and Senkou Span A at 169.48, and 50-DMA. Yet it remains shy of testing the year-to-date high reached on April 29 at 171.58.
00 figure, followed by the 172.50 mark. Once those two levels are cleated, up next will be the 173.00 psychological level. On further weakness, the EUR/JPY might be headed for a pullback, and test 171.00. Once cleared, the next support would be the confluence of the Tenkan, Kijun-Sen and Senkou Span A at 169.48. Once surpassed, the next stop would be the 50-day moving average at 168.40. EUR/JPY Price Action – Daily Chart EUR/JPY Overview Today last price 171.32 Today Daily Change 0.
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EUR/JPY Price Analysis: Pair stands neutral, 20-day SMA stands as a strong resistanceOn Tuesday, the EUR/JPY pair continued to float around the 168.00 level, moving minorly negative as the pair continued sideways trading.
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EUR/JPY Price Analysis: Support holds strong at 168.00 and clears lossesOn Monday, the EUR/JPY pair experienced an initial fall to 168.15 before stabilizing at 168.80, which seems to affirm the fortification of the support level around 168.00.
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