Mon. May 20th, 2024

EUR/JPY PRICE ANALYSIS: BULLS MAKE A STRIDE AND RECLAIM THE 20-DAY SMA

The EUR/JPY pair is trading at 164.22, recording a slight uptick on Tuesday’s session.

  • The daily chart reveals that the EUR/JPY maintains a bullish sentiment, as indicated by the rising RSI and diminishing negative momentum via MACD.
  • The hourly chart’s RSI shows that the pair is correcting overbought conditions.

The EUR/JPY pair is trading at 164.22, recording a slight uptick on Tuesday’s session.

This slight appreciation points towards a continuing strength of the Euro against the Japanese Yen.

Despite minor market fluctuations suggesting temporary corrections, the broader technical outlook remains largely bullish.

To reinforce this, bulls stepped in and recovered the 20-day Simple Moving Average (SMA) which brightened the outlook for the buyers.

The daily chart reveals that the EUR/JPY pair maintains a bullish momentum, indicated by its Relative Strength Index (RSI) standing at 55, comfortably within the positive trend zone.

This is supported by the falling red bars of the Moving Average Convergence Divergence (MACD) histogram, which demonstrates diminishing negative momentum.

EUR/JPY

Overview
Today last price164.29
Today Daily Change0.38
Today Daily Change %0.23
Today daily open163.91
Trends
Daily SMA20164.02
Daily SMA50162.74
Daily SMA100160.62
Daily SMA200159.5
Levels
Previous Daily High164.44
Previous Daily Low162.67
Previous Weekly High165.18
Previous Weekly Low162.28
Previous Monthly High165.36
Previous Monthly Low160.22
Daily Fibonacci 38.2%163.76
Daily Fibonacci 61.8%163.35
Daily Pivot Point S1162.91
Daily Pivot Point S2161.9
Daily Pivot Point S3161.13
Daily Pivot Point R1164.68
Daily Pivot Point R2165.45
Daily Pivot Point R3166.45

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