EUR/JPY Price Analysis: A move to 2020 peaks is on the cards

EUR/JPY is reversing Monday’s pullback and challenges 125.00.
The 2020 peaks around 125.20 emerges as the next target.

Pablo Piovano FXStreet

EUR/JPY leaves behind the pessimism at the beginning of the week and is now flirting with the key barrier at 125.00 the figure.

The underlying positive stance in the cross remains well and sound, with occasional bearish moves deemed as corrective only. Against this, EUR/JPY is expected to re-visit the YTD tops in the 125.20 region in the short-term horizon, while bouts of weakness are predicted to meet contention in the 122.90 region.

Looking at the broader picture, the outlook on EURJPY is seen as constructive while above the 200-day SMA, today at 120.03.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	124.95
Today Daily Change	43
Today Daily Change %	0.26
Today daily open	124.62

Trends
Daily SMA20	122.83
Daily SMA50	121.63
Daily SMA100	119.53
Daily SMA200	120.05

Levels
Previous Daily High	125.06
Previous Daily Low	123.99
Previous Weekly High	125.21
Previous Weekly Low	123.02
Previous Monthly High	125.21
Previous Monthly Low	120.26
Daily Fibonacci 38.2%	124.4
Daily Fibonacci 61.8%	124.65
Daily Pivot Point S1	124.06
Daily Pivot Point S2	123.49
Daily Pivot Point S3	122.99
Daily Pivot Point R1	125.12
Daily Pivot Point R2	125.62
Daily Pivot Point R3	126.19

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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