EUR/JPY Price Analysis: A test of the 2023 high looms closer

EUR/JPY adds to the weekly upside and surpasses 151.00.
Further gains could see the 2023 top revisited in the near term.

Pablo Piovano FXStreet

EUR/JPY looks to add to the ongoing rebound above the key 151.00 hurdle in pre-Fed trading on Wednesday.

In case bulls keep pushing higher, the next relevant resistance level now emerges at the 2023 peak at 151.61 (May 2). The surpass of the latter should meet the next target of importance not before the weekly high at 156.83 (September 22, 2008).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 144.35.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	151.3
Today Daily Change	45
Today Daily Change %	-0.03
Today daily open	151.34

Trends
Daily SMA20	149.8
Daily SMA50	148.32
Daily SMA100	145.53
Daily SMA200	144.35

Levels
Previous Daily High	151.38
Previous Daily Low	150.04
Previous Weekly High	150.44
Previous Weekly Low	148.63
Previous Monthly High	151.62
Previous Monthly Low	146.14
Daily Fibonacci 38.2%	150.86
Daily Fibonacci 61.8%	150.55
Daily Pivot Point S1	150.46
Daily Pivot Point S2	149.57
Daily Pivot Point S3	149.11
Daily Pivot Point R1	151.8
Daily Pivot Point R2	152.26
Daily Pivot Point R3	153.14

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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