On Tuesday, the EUR/JPY pair continued to float around the 168.00 level, moving minorly negative as the pair continued sideways trading.
The daily MACD and RSI indicate decreased bearish momentum. A notable support threshold is holding up at 168.00, with recovery levels eyed at 169.70, around the 20-day SMA. Despite recent downturns, the broader bullish outlook remains sustained by the 100 and 200-day SMAs. Any potential recovery falls at the hands of the 20-day Simple Moving Average which is currently near the 169.70 mark, which acts as an upper boundary hurdle.
The fundamental stronghold arises from the 100 and 200-day SMAs present at approximately 164.00 and 161.00, which might provide defense against potential losses. To conclude, traders remain focused on the movements around the 168.00 support level and the 169.70 recovery hurdle. A breach either way may decide the direction of the upcoming sessions. EUR/JPY Overview Today last price 168.76 Today Daily Change -0.29 Today Daily Change % -0.17 Today daily open 169.05 Trends Daily SMA20 169.
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EUR/JPY Price Analysis: Bears assert their dominance, push the pair the below 20-day SMAIn Tuesday's session, the EUR/JPY pair endured significant selling pressure pushing below the cross below the strong support level of the 20-day Simple Moving Average (SMA) at 169.30, and touching a low of 168.50.
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EUR/JPY Price Analysis: Pair struggles to gain ground as momentum wanesIn Monday's session, a weak Yen against its rivals caused the EUR/JPY pair to slip to 170.30.
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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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EUR/JPY Price Analysis: Range-bound below 170.00 awaits fresh catalystThe EUR/JPY registered minimal losses of 0.13% on Thursday after the European Central Bank (ECB) decided to cut interest rates, failing to undermine the Euro.
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EUR/JPY Price Analysis: Momentum shifts, bulls recover 20-day SMAIn Wednesday's session, the EUR/JPY pair witnessed a shift in momentum as buyers stepped in to recover the 20-day Simple Moving Average (SMA) at 169.40, supported by a recovery in the Yen against its peers.
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EUR/JPY Price Analysis: The key upside barrier emerges above 170.00The EUR/JPY cross snaps the two-day losing streak around 169.30 during the early European session on Wednesday.
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