Mon. May 20th, 2024

EUR/JPY PRICE ANALYSIS: BULLS MAINTAIN CONTROL, CONSOLIDATION PHASE LIKELY

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.

EUR/JPY

Overview
Today last price164.56
Today Daily Change-0.22
Today Daily Change %-0.13
Today daily open164.78
Trends
Daily SMA20164.02
Daily SMA50162.94
Daily SMA100160.67
Daily SMA200159.61
Levels
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

Related Post

Grammy award winning Christian music artist, and American Idol contestant alum Mandisa died at 47, ‘Struggles are over’ ‘Transformers One’: Paramount Reveals New Release Date as Official Trailer Launches Taylor Swift Reacts to Meme About Her Dating History IPL 2024 Match Today: LSG vs CSK fantasy 11 And Dream 11, Team predictions IPL 2024: BCCI Takes Action Against Hardik Pandya Immediately After PBKS vs MI IPL Match, Slaps Heavy Fine For Over-Rate Offence Gold XAU/USD New Price Today Advances To New Historic High Above $2,430 What are the 3/29/24 winning Mega Millions numbers? Mega Millions winning numbers for Friday, March 29, 2024. Find your tickets IPL 2024: RCB vs KKR IPL Live Score, Virat bats through the innings IPL 2024: RCB vs KKR, 10th Match, RCB vs KKR Dream11 Prediction, Miles McBride does it all in OG Anunoby’s absence as New York Knicks gut out win over Warriors Open Championship 2024: Scottie Scheffler shouts out Tiger Woods’ fan heckle after winning at TPC Sawgrass Winning Mega Millions numbers for March 15, 2024. Did anyone win Friday night? She Season 3 Release Date Rumors: Is It Coming Out? Where is Bhumika Pardeshi’s – Aaditi Pohankar Meta Stock Price Today Meta Platforms Inc. (META) -4.25 Today Bitcoin prices near record high. Here’s why. North Carolina’s congressional delegation headed for a shake-up with 5 open seats and party shifts Janhvi Kapoor Reveals What Boys Notice In Her First Glenn Maxwell Slams Heroic 201* | Australia vs Afghanistan | Cricket World Cup 2023 | Australia Defeat Afghanistan In WC Thriller Virat Kohli Ne Tod Diye Kahi Ricord Sachin Ke Records Ko Tod Ke Bane Akele Balebaz Hardik Pandya Ab Nahi Khelenge World Cup 2023