EUR/JPY Price Analysis: Euro hits 5-week highs, challenges 118.00 level

EUR/JPY is trading at its highest since early March 2020.
EUR/JPY is challenging the May’s highs near the 117.90 resistance.

Flavio Tosti Independent Analyst

EUR/JPY four-hour chart

EUR/JPY is challenging the May’s highs near the 117.90 resistance while the market is trading above the main SMAs on the four-hour chart. It is unclear if the bullish bounce is sustainable since the overall trend is down. A consolidation appears likely in the medium term. Resistances can be seen near the 117.90 and the 118.70 levels initially. On the other hand, support is seen near the 117.00 and 116.50 levels.

Resistance: 117.90, 118.70, 119.55

Support: 117.00, 116.50, 116.00

Additional key levels

EUR/JPY

Overview
Today last price	117.84
Today Daily Change	0.67
Today Daily Change %	0.57
Today daily open	117.17

Trends
Daily SMA20	116.17
Daily SMA50	117.51
Daily SMA100	119.04
Daily SMA200	119.31

Levels
Previous Daily High	117.24
Previous Daily Low	115.79
Previous Weekly High	116.86
Previous Weekly Low	115.3
Previous Monthly High	119.04
Previous Monthly Low	115.45
Daily Fibonacci 38.2%	116.69
Daily Fibonacci 61.8%	116.34
Daily Pivot Point S1	116.23
Daily Pivot Point S2	115.28
Daily Pivot Point S3	114.78
Daily Pivot Point R1	117.68
Daily Pivot Point R2	118.18
Daily Pivot Point R3	119.13

Author

Flavio Tosti

Independent Analyst

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