EUR/JPY Price Analysis: Constructive outlook seen above the 200-day SMA

EUR/JPY loses some upside momentum around 143.20.
Further recovery looks likely above 141.81 so far.

Pablo Piovano FXStreet

EUR/JPY leaves behind Wednesday’s irresolute price action and advances past the 143.00 barrier, where it has so far met some decent resistance.

Despite the weekly rebound seems to have run out so steam, further upside should not be ruled out. Against that, the 2023 high at 145.56 (March 2) emerges as the next target of note prior to a potential visit to the December 2022 peak at 146.72 (December 15).

In the meantime, extra gains remain in store while the cross trades above the 200-day SMA, today at 141.81.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	142.86
Today Daily Change	102
Today Daily Change %	0.11
Today daily open	142.71

Trends
Daily SMA20	143.44
Daily SMA50	142.17
Daily SMA100	142.73
Daily SMA200	141.83

Levels
Previous Daily High	143.63
Previous Daily Low	142.3
Previous Weekly High	144.96
Previous Weekly Low	139.13
Previous Monthly High	145.47
Previous Monthly Low	139.55
Daily Fibonacci 38.2%	143.12
Daily Fibonacci 61.8%	142.81
Daily Pivot Point S1	142.13
Daily Pivot Point S2	141.56
Daily Pivot Point S3	140.81
Daily Pivot Point R1	143.46
Daily Pivot Point R2	144.2
Daily Pivot Point R3	144.78

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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