EUR/JPY Price Analysis: Extra gains look likely

EUR/JPY fades Monday’s downtick and regains 131.00.
Next to the upside comes 131.15 ahead of 131.41.

Pablo Piovano FXStreet

EUR/JPY quickly leaves behind the daily pullback recorded at the beginning of the week and now refocuses the attention to the 131.00 yardstick and above.

The recent breakout of the critical 200-day SMA (130.50) should prop up extra gains in the cross in the short-term horizon. That said, bulls now face the next minor barrier at the Fibo level (of the October-December drop) at 131.15 just before the 131.41 level (November 10) and then another Fibo retracement at 132.17.

While above the 200-day SMA, the outlook for EUR/JPY should point to extra gains.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	131.03
Today Daily Change	86
Today Daily Change %	0.56
Today daily open	130.3

Trends
Daily SMA20	129.11
Daily SMA50	129.69
Daily SMA100	129.83
Daily SMA200	130.54

Levels
Previous Daily High	131
Previous Daily Low	130.02
Previous Weekly High	131.04
Previous Weekly Low	129.54
Previous Monthly High	131.04
Previous Monthly Low	127.38
Daily Fibonacci 38.2%	130.4
Daily Fibonacci 61.8%	130.63
Daily Pivot Point S1	129.88
Daily Pivot Point S2	129.46
Daily Pivot Point S3	128.9
Daily Pivot Point R1	130.86
Daily Pivot Point R2	131.42
Daily Pivot Point R3	131.84

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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