EUR/JPY: Unchanged Around 158.00

EUR/JPY edged up 0.01% late on Friday as mixed U.S. economic data stoked risk aversion. As a result, the Japanese yen gained against the US dollar (USD) and USD/JPY pared some of its losses, supporting the pair. EUR/JPY is at 158.23 at the time of writing.

Over the past three days, EUR/JPY eventually rose above 158.00 but failed to regain 159.00, putting EUR/JPY under selling pressure. If bears step in, it could push EUR/JPY closer to the baseline at 157.52 and then test the leading B-band at 157.52. A break of the latter would expose the leading band A, followed by the conversion line at 157.03.

If buyers emerge at current levels, they must reclaim 159.00 points in order to test the bottom of the Ichimoku Cloud at 159.32 points. The next supply area will be the 160.00 handle, followed by the top of the Ichimoku cloud near 161.35/55.

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