EUR/JPY Price Analysis: Extra consolidation looks likely

EUR/JPY alternates gains with losses around 158.00.
The continuation of the side-lined trade appears on the cards.

Pablo Piovano FXStreet

EUR/JPY navigates within a narrow range in the 158.00 region so far on Tuesday.

Considering the ongoing performance, further consolidation appears in store for the cross for the time being. In the meantime, the breakout of this range could put the September high of 158.65 (September 13) to the test ahead of the 2023 top at 159.76 (August 30).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 150.42.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	157.83
Today Daily Change	105
Today Daily Change %	-0.03
Today daily open	157.87

Trends
Daily SMA20	157.48
Daily SMA50	157.91
Daily SMA100	156.27
Daily SMA200	150.38

Levels
Previous Daily High	157.99
Previous Daily Low	157.06
Previous Weekly High	158.61
Previous Weekly Low	156.51
Previous Monthly High	158.66
Previous Monthly Low	156.58
Daily Fibonacci 38.2%	157.63
Daily Fibonacci 61.8%	157.41
Daily Pivot Point S1	157.29
Daily Pivot Point S2	156.71
Daily Pivot Point S3	156.36
Daily Pivot Point R1	158.22
Daily Pivot Point R2	158.57
Daily Pivot Point R3	159.15

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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