EUR/JPY Price Analysis: Another move to 129.50 stays on the table

EUR/JPY navigates the lower end of the range above 130.00.
Further upside should not be ruled out in the near term.

Pablo Piovano FXStreet

The weekly leg lower in EUR/JPY seems to have met some contention in the vicinity of the 130.00 support so far.

The loss of this area should expose further downside and the probable test of the monthly lows in the mid-129.00s in the short-term horizon.

The broader outlook for the cross is seen as constructive while it trades above the 200-day SMA, today at 128.25.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.42
Today Daily Change	31
Today Daily Change %	0.09
Today daily open	130.3

Trends
Daily SMA20	131.47
Daily SMA50	132.36
Daily SMA100	131.15
Daily SMA200	128.28

Levels
Previous Daily High	131.09
Previous Daily Low	130.22
Previous Weekly High	131.87
Previous Weekly Low	129.62
Previous Monthly High	134.13
Previous Monthly Low	130.04
Daily Fibonacci 38.2%	130.55
Daily Fibonacci 61.8%	130.75
Daily Pivot Point S1	129.98
Daily Pivot Point S2	129.66
Daily Pivot Point S3	129.11
Daily Pivot Point R1	130.85
Daily Pivot Point R2	131.41
Daily Pivot Point R3	131.72

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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