EUR/JPY Price Analysis: Extra gains expected above 125.00

EUR/JPY approaches the key barrier at 125.00 on Tuesday.
If this level is cleared, then the next target comes in at 127.00.

Pablo Piovano FXStreet

EUR/JPY fades Monday’s negative price action and resumes the upside towards the key 125.00 neighbourhood.

If this important hurdle is cleared in the near-term, then there are no relevant resistance levels until the 2020 peaks in the 127.00 neighbourhood (September 1).

Looking at the broader picture, while above the 200-day SMA at 121.53 the outlook should remain constructive. The October’s low around 121.60 also reinforces this key contention zone.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	124.87
Today Daily Change	59
Today Daily Change %	0.28
Today daily open	124.52

Trends
Daily SMA20	123.68
Daily SMA50	123.63
Daily SMA100	124.18
Daily SMA200	121.54

Levels
Previous Daily High	125.13
Previous Daily Low	124.31
Previous Weekly High	124.57
Previous Weekly Low	123.08
Previous Monthly High	125.14
Previous Monthly Low	121.7
Daily Fibonacci 38.2%	124.62
Daily Fibonacci 61.8%	124.81
Daily Pivot Point S1	124.18
Daily Pivot Point S2	123.83
Daily Pivot Point S3	123.36
Daily Pivot Point R1	125
Daily Pivot Point R2	125.47
Daily Pivot Point R3	125.82

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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