EUR/JPY Price Analysis: Bullish bias remains unchanged

  • EUR/JPY recorded new 2021 highs near 130.50 on Monday.
  • Correction looks likely on the back of overbought levels.

EUR/JPY advanced further north of the 130.00 mark and clinched new yearly tops in the 130.50 region earlier at the beginning of the week.

While the cross rapidly faded the move, bulls still remain in control. That said, extra gains appear likely with the next interim target at the 131.00 hurdle followed by the summer 2018 high at 131.98 (July 17).

Reinforcing the current positive stance, EUR/JPY keeps trading above the immediate support line (off November 19 2020 low) in the 127.40 area, also coincident with the 50-day SMA.

In the meantime, while above the 200-day SMA at 124.77 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart


Today last price 130.16
Today Daily Change 46
Today Daily Change % -0.17
Today daily open 130.38
Daily SMA20 128.7
Daily SMA50 127.34
Daily SMA100 126.07
Daily SMA200 124.8
Previous Daily High 130.4
Previous Daily Low 129.82
Previous Weekly High 130.4
Previous Weekly Low 128.78
Previous Monthly High 129.98
Previous Monthly Low 126.1
Daily Fibonacci 38.2% 130.17
Daily Fibonacci 61.8% 130.04
Daily Pivot Point S1 130
Daily Pivot Point S2 129.62
Daily Pivot Point S3 129.42
Daily Pivot Point R1 130.58
Daily Pivot Point R2 130.78
Daily Pivot Point R3 131.16



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD recovers within range, lacks follow-through

Encouraging macroeconomic data from the EU and the US boosted risked sentiment, which in turn, helped EUR/USD to advance, currently nearing the weekly high at 1.2075.


GBP/USD trades around 1.39 after a choppy reaction to the BOE

GBP/USD is trading around 1.39 after an 80-pip move around the BOE's "Super Thursday." The bank announced a slowdown in buying bonds but no change to the overall scope. US jobless claims and elections in Scotland are awaited. 


Gold Price Analysis: Gold bears seeking a correction to test bullish commitments

Gold has broken above the $1,800 mark, hitting the highest levels since February. The Confluence Detector is showing that XAU/USD has very few barriers through $1,850. Bears are lurking at resistance structure, eyeing a correction ahead of NFPs.

Gold News

Dogecoin price targets $1 as the chase for high-yielding cryptos accelerates

Dogecoin price strength combined with the complementary volume highlights the continued fascination in the digital token, portending further gains in the days ahead.

More Dogecoin News

US Nonfarm Payrolls April Preview: When the economy booms, its all about rates

The US labor market’s stars appear aligned for April.The economy is expanding rapidly, employers are confident and consumers eager to throw off the restraints of the past year.

Read more