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

EUR/JPY advances to new highs around the 147.00 mark.
Next on the upside comes the December 2014 high at 149.78.

Pablo Piovano FXStreet

EUR/JPY accelerates the upside momentum and reaches fresh tops around the 147.00 hurdle, an area last seen back in December 2014.

Considering the current price action, further gains remain favoured. That said, the immediate target now emerges at the December 2014 peak at 149.78 (December 8).

In the short term the upside momentum is expected to persist while above the October lows around 141.00.

In the longer run, while above the key 200-day SMA at 136.60, the constructive outlook for the cross should remain unchanged.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	146.47
Today Daily Change	118
Today Daily Change %	-0.14
Today daily open	146.68

Trends
Daily SMA20	141.99
Daily SMA50	140.52
Daily SMA100	140.21
Daily SMA200	136.56

Levels
Previous Daily High	146.72
Previous Daily Low	144.37
Previous Weekly High	144.85
Previous Weekly Low	140.9
Previous Monthly High	145.64
Previous Monthly Low	137.38
Daily Fibonacci 38.2%	145.82
Daily Fibonacci 61.8%	145.27
Daily Pivot Point S1	145.13
Daily Pivot Point S2	143.57
Daily Pivot Point S3	142.77
Daily Pivot Point R1	147.48
Daily Pivot Point R2	148.28
Daily Pivot Point R3	149.83

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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