- Analytics
- News and Tools
- Market News
- EUR/JPY Price Analysis: Ends the week bearishly, tumbles below 160.00
EUR/JPY Price Analysis: Ends the week bearishly, tumbles below 160.00
- EUR/JPY records significant weekly losses, closing down by more than 2.20%.
- A key focus for traders is the Ichimoku Cloud support around the 158.00 level, which could accelerate the downtrend toward 154.00.
- For a shift back to bullish resumption, EUR/JPY must reclaim the Kijun-Sen at 161.00 and surpass the recent cycle low at 161.24, with the Tenkan-Sen at 161.68 up next.
The EUR/JPY closed the week with a negative tone, down by 1% on Friday, for a total of more than 2.20% weekly losses, and shifts bearish after breaking key support levels on Friday. At the time of writing, the EUR/JPY exchanges hands at 159.73, following a fall of more than 160 pips from a daily high of 161.77.
The pair shifted bearish, though it’s pending breaching support at the Ichimoku Cloud (Kumo), at around the 158.00 area. Once the EUR/JPY extends its losses below that price level, sellers will target the October 3 swing low of 154.34, ahead of the July 28 low of 151.40
On the other hand, EUR/JPY needs to reclaim the Kijun-Sen at 161.00 before challenging the most recent cycle low at 161.24, the November 21 low. If those levels are surrendered, the next stop would e the Tenkan-sen at 161.68.
EUR/JPY Price Analysis – Daily Chart
EUR/JPY Technical Levels
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
