EUR/JPY Price Analysis: Extra consolidation appears likely

EUR/JPY fades the earlier bull run to the 145.20 region on Wednesday.
Next on the upside comes the 2023 high near 145.60.

Pablo Piovano FXStreet

EUR/JPY now alternates gains with losses below the 145.00 mark after the initial move to 145.20 lacked follow through on Wednesday.

Further side-lined trading seems likely for the time being. However, the breakout of this theme should see the next hurdle at the 2023 high at 145.56 (March 2). Beyond this level, the cross could dispute the December 2022 top at 146.72 (December 15) prior to the 2022 high at 148.40 (October 21 2022).

In the meantime, while above the 200-day SMA, today at 141.73, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	144.67
Today Daily Change	72
Today Daily Change %	-0.02
Today daily open	144.7

Trends
Daily SMA20	143.34
Daily SMA50	141.79
Daily SMA100	143.17
Daily SMA200	141.73

Levels
Previous Daily High	145.44
Previous Daily Low	144.56
Previous Weekly High	145.57
Previous Weekly Low	143.57
Previous Monthly High	145.47
Previous Monthly Low	139.55
Daily Fibonacci 38.2%	144.9
Daily Fibonacci 61.8%	145.11
Daily Pivot Point S1	144.36
Daily Pivot Point S2	144.02
Daily Pivot Point S3	143.48
Daily Pivot Point R1	145.24
Daily Pivot Point R2	145.78
Daily Pivot Point R3	146.12

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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