• Euro rises to seven-week highs versus Japanese yen on the last day of 2021.
  • Short-term bias points to the upside in EUR/JPY.
  • Next resistance located around 131.00, horizontal level and upper limit of the channel.

The EUR/JPY is rising on Friday, confirming the break of the 20-week moving average. The next level to watch in the weekly chart could be seen at 131.50, with a close above opening the doors to more gains.

The bias is to the upside in the short term as it moves within an upward channel. The upside limit is seen slightly above 131.00. The mentioned level is also a horizontal support; the euro could likely make a stop in there and a pullback.

The bullish tone will remain intact as long as it holds above the 21-SMA in the four hours chart and the lower limit of the channel, both levels around 131.25. A slide below should point to weakness ahead with the next support at 129.75.

More gains are likely if EUR/JPY breaks and holds above 131.00. The next critical resistance stands at 131.60.

EUR/JPY 4-hour chart

EURJPY

EUR/JPY

Overview
Today last price 130.76
Today Daily Change 0.50
Today Daily Change % 0.38
Today daily open 130.26
 
Trends
Daily SMA20 128.83
Daily SMA50 129.75
Daily SMA100 129.8
Daily SMA200 130.53
 
Levels
Previous Daily High 130.6
Previous Daily Low 130.12
Previous Weekly High 129.76
Previous Weekly Low 127.52
Previous Monthly High 132.56
Previous Monthly Low 127.49
Daily Fibonacci 38.2% 130.3
Daily Fibonacci 61.8% 130.42
Daily Pivot Point S1 130.06
Daily Pivot Point S2 129.86
Daily Pivot Point S3 129.59
Daily Pivot Point R1 130.53
Daily Pivot Point R2 130.8
Daily Pivot Point R3 131

 

 

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