- Analytics
- News and Tools
- Market News
- EUR/JPY Price Analysis: Looms around 7-week high as buyers cling to 161.00
EUR/JPY Price Analysis: Looms around 7-week high as buyers cling to 161.00
- EUR/JPY slightly down at 161.15, hovering near 7-week high of 161.86, buoyed by positive sentiment.
- Technical view: Break above 161.87 could lift EUR/JPY to 162.00, eyeing November peaks at 163.72, 164.31.
- Downside risk: Falling below 160.81, 160.64 may push EUR/JPY to pivotal 160.00, with supports at 159.81, 158.71.
The EUR/JPY retreated by 0.14% on Monday, still meandering at around the 7-week high hit last week at around 161.86, as buyers cling to the 161.00 figure amid a risk-on environment. At the tie of writing, the pair exchanges hands at 161.15.
The EUR/JPY daily chart portrays the pair is consolidating above the 161.00 figure, though capped at around 161.87, the January 19 high. If buyers reclaim that level, that could open the door to challenge the 162.00 figure, followed by the November 27 high at 163.72. A breach of the latter will expose the November 16 high at 164.31.
Conversely, if sellers push prices below the January 19 low of 160.81, followed by the January 18 low of 160.64, that could push prices below the 160.00 figure to challenge the Tenkan-Sen at 159.81. Further downside is seen below that level, at 158.97, the Senkou Span A, and the Senkou Span B at 158.71.
EUR/JPY Price Action – Daily Chart
EUR/JPY Key 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
