EUR/JPY Price Analysis: Bulls continue to target 160.00

EUR/JPY reverses part of the recent two-day decline.
Further recovery keeps targeting the 160.00 region.

Pablo Piovano FXStreet

EUR/JPY regains upside traction following two consecutive daily pullbacks on Thursday.

If the rebound gathers extra impulse, the cross should challenge recent 2023 peaks near 159.50 ahead of the key round level at 160.00. The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 147.58.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	157.94
Today Daily Change	90
Today Daily Change %	0.39
Today daily open	157.32

Trends
Daily SMA20	157.46
Daily SMA50	156.66
Daily SMA100	152.58
Daily SMA200	147.55

Levels
Previous Daily High	158.38
Previous Daily Low	156.87
Previous Weekly High	159.34
Previous Weekly Low	157.66
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	157.45
Daily Fibonacci 61.8%	157.8
Daily Pivot Point S1	156.67
Daily Pivot Point S2	156.02
Daily Pivot Point S3	155.17
Daily Pivot Point R1	158.18
Daily Pivot Point R2	159.03
Daily Pivot Point R3	159.68

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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