EUR/JPY Price Analysis: Extra gains appear in store near term

EUR/JPY clinches fresh cycle peaks just above the 144.00 mark.
Further upside now targets the 2015 high beyond 145.00.

Pablo Piovano FXStreet

The rally in EUR/JPY looks everything but abated and is currently testing the area of new tops in the 144.00 neighbourhood.

The cross briefly probed the area just above the 144.00 mark and opened the door to the continuation of the rally in the very near term. That said, there are no relevant hurdles until the 2015 high at 145.32 (January 2) ahead of the 2014 peak at 149.78 (December 8).

In the meantime, while above the 2-month support line near 135.90, the short-term outlook for the cross should remain bullish.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	143.98
Today Daily Change	226
Today Daily Change %	1.48
Today daily open	141.88

Trends
Daily SMA20	136.96
Daily SMA50	136.73
Daily SMA100	133.48
Daily SMA200	131.75

Levels
Previous Daily High	142.06
Previous Daily Low	140.98
Previous Weekly High	140.37
Previous Weekly Low	136.38
Previous Monthly High	138.32
Previous Monthly Low	132.66
Daily Fibonacci 38.2%	141.65
Daily Fibonacci 61.8%	141.4
Daily Pivot Point S1	141.22
Daily Pivot Point S2	140.57
Daily Pivot Point S3	140.15
Daily Pivot Point R1	142.3
Daily Pivot Point R2	142.72
Daily Pivot Point R3	143.38

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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