Mon. May 20th, 2024


EUR/JPYGlobal Markets: Inflation data from the US leads to market concerns about the euro - Share Market Daily

The EUR/JPY slightly declined to 164.70 in Thursday’s session.

  • The RSI on the daily chart of EUR/JPY indicates sustained bullish momentum.
  • Hourly chart shows an RSI below its mid-zone and MACD with rising red bars, pointing towards possible consolidation.
  • The EUR/JPY’s position above main SMAs underscores a strong bullish bias.

The EUR/JPY slightly declined to 164.70 in Thursday’s session. That being said, the overall trend still favors the bulls but a consolidation phase, suggested by bears dominating the hourly chart, may create a balanced playing field for both buyers and sellers ahead of the Asian session.

On the daily chart, the Relative Strength Index (RSI) for the EUR/JPY pair is in positive territory, with a most recent reading of 58. This suggests that the pair’s upsurge might remain intact as long as the RSI stays above the 50 mark, indicating that buyers are in control at this moment.

Meanwhile, on the hourly chart, the EUR/JPY’s RSI declined below its middle zone, with the latest reading of 44 as of the last hour. This could point towards a pending period of consolidation. The Moving Average Convergence Divergence (MACD) displays rising red bars, also hinting at a temporary slowdown in the bullish momentum.

Regarding the Simple Moving Average (SMA), the cross EUR/JPY holds strong above its 20, 100, and 200-day SMAs, indicating a bullish stance. That being said the pair must defend the 20-day SMA at 164.00 which is a strong support to maintain the positive short-term outlook.


Today last price164.56
Today Daily Change-0.22
Today Daily Change %-0.13
Today daily open164.78
Daily SMA20164.02
Daily SMA50162.94
Daily SMA100160.67
Daily SMA200159.61
Previous Daily High164.81
Previous Daily Low163.93
Previous Weekly High165.18
Previous Weekly Low162.28
Previous Monthly High165.36
Previous Monthly Low160.22
Daily Fibonacci 38.2%164.47
Daily Fibonacci 61.8%164.27
Daily Pivot Point S1164.2
Daily Pivot Point S2163.62
Daily Pivot Point S3163.32
Daily Pivot Point R1165.09
Daily Pivot Point R2165.39
Daily Pivot Point R3165.97

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