EUR/JPY is trading slightly lower, around 161.30, amid growing speculation of a rate hike from the Bank of Japan in March. The cross maintains a bearish tone below key moving averages, with the RSI indicator indicating a downward momentum.

According to the four-hour chart, EUR/JPY continues to show a bearish sentiment as it remains below the 50- and 100-period Exponential Moving Averages (EMA). Additionally, the Relative Strength Index (RSI) is below the 50-midline, indicating support for sellers.

The main resistance for EUR/JPY is at 161.65, where the upper boundary of the Bollinger Band and the 50-period EMA converge. Beyond that, further resistance is at the 100-period EMA at 161.85. If buying pressure persists, the pair could rally to the March 8 high at 162.17, followed by the March 6 high at 162.95.

On the downside, initial support is at the March 12 low of 160.87, with further support at the lower Bollinger Band limit of 160.25. Additionally, the psychological level of 160.00 could act as a significant support level.

EUR/JPY four-hour chart


Today last price161.3
Today Daily Change-0.05
Today Daily Change %-0.03
Today daily open161.35
Daily SMA20162.29
Daily SMA50160.81
Daily SMA100160.08
Daily SMA200158.45
Previous Daily High161.63
Previous Daily Low160.28
Previous Weekly High163.52
Previous Weekly Low160.56
Previous Monthly High163.72
Previous Monthly Low158.08
Daily Fibonacci 38.2%161.11
Daily Fibonacci 61.8%160.8
Daily Pivot Point S1160.55
Daily Pivot Point S2159.74
Daily Pivot Point S3159.2
Daily Pivot Point R1161.9
Daily Pivot Point R2162.44
Daily Pivot Point R3163.24


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