EURJPY Price Analysis: Reverses at the 20-day EMA, eyeing 143.00

• EURJPY fails to crack the confluence of resistance and the 20-DMA around 145.40.
• JPY buyers are gathering momentum, as shown by the RSI at bearish territory, aiming downward.

The EURJPY slides a minuscule 0.05% as the Asian Pacific session begins, courtesy of a risk-off impulse that weighed on the EUR, which registered losses of 0.45% vs. the JPY on Thursday. At the time of writing, the EURJPY is trading at 144.50.

EURJPY Price Analysis: Technical outlook

The EURJPY daily chart displays that Japanese Yen buyers are gathering momentum due to some reasons. First, since hitting the 2022 year high at 148.40, the cross-currency pair hoovered within a range for five days before tumbling to fresh weekly lows at 144.03. Second, the Relative Strength Index (RSI) crossed beneath the 50-midline with a bearish slope, suggesting a test of the 50-day Exponential Moving Average (EMA) at 143.12 is on the cards.

For that scenario to play out, the EURJPY's first support would be the 144.00 mark. Key support levels lie at the October 24 daily low at 143.72, followed by the previously mentioned 50-day EMA at 143.12. The break below will expose the psychological 143.00.

Contrarily, if EUR bulls reclaim 145,00, the EURJPY could climb towards 146.00, which, once cleared, could lay the ground towards the psychological 147.00, ahead of the YTD high hat 148.40.

EURJPY Key Technical Levels