EUR/JPY Price Analysis: Extra gains remain in the pipeline

EUR/JPY clinched new 2021 highs in the 133.60/65 band.
The next hurdle on the upside emerges at the 134.00 hurdle.

Pablo Piovano FXStreet

EUR/JPY keeps the rally well and sound and manages to keep business in the upper end of the range past the 133.00 mark.

The continuation of the uptrend looks likely in the very near-term, with an interim resistance around the 134.00 neighbourhood. Further upside should remain on the cards as long as the cross remains underpinned by the immediate support line (off the March lows) near 130.90. This area is also reinforced by the proximity of the 50-day SMA.

However, a potential corrective move should not be ruled out in the very near-term, as EUR/JPY navigates the overbought territory, as per the daily RSI (70.24).

In the broader picture, while above the 200-day SMA at 126.94 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	133.25
Today Daily Change	28
Today Daily Change %	-0.02
Today daily open	133.27

Trends
Daily SMA20	132.24
Daily SMA50	130.88
Daily SMA100	129.18
Daily SMA200	126.95

Levels
Previous Daily High	133.61
Previous Daily Low	132.82
Previous Weekly High	133.44
Previous Weekly Low	132.51
Previous Monthly High	132.37
Previous Monthly Low	129.57
Daily Fibonacci 38.2%	133.31
Daily Fibonacci 61.8%	133.12
Daily Pivot Point S1	132.86
Daily Pivot Point S2	132.44
Daily Pivot Point S3	132.06
Daily Pivot Point R1	133.65
Daily Pivot Point R2	134.03
Daily Pivot Point R3	134.44

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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