EUR/JPY Price Analysis: Extra gains face the next barrier at 129.30

EUR/JPY pushes higher and clinches YTD peaks near 128.00.
The next hurdle of note comes in at the 129.30 region.

Pablo Piovano FXStreet

EUR/JPY extends the rally further and records fresh 2021 highs in levels just shy of 128.00 the figure on Monday.

If the buying impetus picks up extra steam, then the next resistance of note should emerge at the 129.30 zone (November 29/December 13 2018 highs) ahead of the psychological hurdle at 130.00 followed by monthly peaks at 130.14 (November 7 2018).

The prospects for near-term further upside remain in place as long as EUR/JPY trades above the immediate support line near 126.30.

Looking at the broader picture, while above the 200-day SMA at 123.71 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	127.18
Today Daily Change	80
Today Daily Change %	0.00
Today daily open	127.18

Trends
Daily SMA20	126.38
Daily SMA50	126.38
Daily SMA100	125.14
Daily SMA200	123.79

Levels
Previous Daily High	127.31
Previous Daily Low	126.98
Previous Weekly High	127.31
Previous Weekly Low	126.44
Previous Monthly High	127.49
Previous Monthly Low	125.09
Daily Fibonacci 38.2%	127.18
Daily Fibonacci 61.8%	127.11
Daily Pivot Point S1	127.01
Daily Pivot Point S2	126.83
Daily Pivot Point S3	126.68
Daily Pivot Point R1	127.33
Daily Pivot Point R2	127.48
Daily Pivot Point R3	127.66

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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