EUR/JPY Price Analysis: Extra gains look likely near term

EUR/JPY extends the upside for the third session in a row.
The surpass of YTD high should allow for further upside.

Pablo Piovano FXStreet

EUR/JPY’s upside momentum seems to have faltered just ahead of the 131.50 level on Thursday.

The persistent buying pressure could encourage the cross to attempt an assault to the 2022 high at 131.60 (January 5), just ahead of the Fibo level (of the October-December drop) at 132.17 and November’s peak at 132.53 (November 4).

While above the 200-day SMA, today at 130.54, the outlook for EUR/JPY should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	131.25
Today Daily Change	44
Today Daily Change %	0.09
Today daily open	131.13

Trends
Daily SMA20	130.06
Daily SMA50	129.52
Daily SMA100	130
Daily SMA200	130.58

Levels
Previous Daily High	131.48
Previous Daily Low	130.96
Previous Weekly High	131.6
Previous Weekly Low	130.02
Previous Monthly High	131.04
Previous Monthly Low	127.38
Daily Fibonacci 38.2%	131.28
Daily Fibonacci 61.8%	131.15
Daily Pivot Point S1	130.9
Daily Pivot Point S2	130.67
Daily Pivot Point S3	130.38
Daily Pivot Point R1	131.42
Daily Pivot Point R2	131.71
Daily Pivot Point R3	131.94

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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