EUR/JPY Price Analysis: Decent contention remains around 134.40

EUR/JPY extends the choppy trading on Thursday.
The 134.40 region keeps supporting the downside.

Pablo Piovano FXStreet

EUR/JPY trades on a volatile fashion in the lower bound of the weekly range so far on Thursday.

Further consolidation remains likely in the very near term, while the underlying upside momentum in the cross should be unchanged. EUR/JPY therefore, is expected to keep the range bound theme for the time being before further gains to, initially, the 2022 high at 137.54 (March 28) ahead of a probable visit to the August 2015 peak at 138.99 (August 15) and prior to the round level at 140.00.

In the meantime, while above the 200-day SMA at 130.15, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	134.8
Today Daily Change	79
Today Daily Change %	-0.06
Today daily open	134.88

Trends
Daily SMA20	132.89
Daily SMA50	130.94
Daily SMA100	130.14
Daily SMA200	130.18

Levels
Previous Daily High	135.48
Previous Daily Low	134.74
Previous Weekly High	137.54
Previous Weekly Low	134
Previous Monthly High	137.54
Previous Monthly Low	124.39
Daily Fibonacci 38.2%	135.19
Daily Fibonacci 61.8%	135.02
Daily Pivot Point S1	134.59
Daily Pivot Point S2	134.3
Daily Pivot Point S3	133.85
Daily Pivot Point R1	135.32
Daily Pivot Point R2	135.76
Daily Pivot Point R3	136.05

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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