EUR/JPY Price Analysis: Hovers around 139.00 amid a mixed-market mood By christianborjon EURJPY Crosses Technical Analysis
pip steeper rally. As the Asian Pacific session begins, the EUR/JPY is trading at 139.03 at the time of writing.equities
finished Wednesday session with gains while Asian stock futures point to a lower open. The Japanese yen recovered some ground against most of the G8 majors, but in the case of the EUR/JPY, its gains amounted to 0.21%. On Wednesday, the EUR/JPY opened near the YTD highs around 139.50s, to then fall on the back of profit-taking due to the slight decline in the price, which pulled the EUR/JPY to record a daily low at 138.39.The EUR/JPY daily chart depicts the pair as upward biased. The daily moving averages below the spot price confirm the aforementioned, but oscillators suggest a correction dip might lie ahead. The Relative Strength Index signals the pair as overbought at 71.
With that said, the EUR/JPY’s first resistance would be the daily pivot at 138.94. A break above would expose 139.28, followed by the R1 daily pivot at 139.50 and then the YTD high at 139.67
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