EUR/JPY Price Analysis: Extra gains remain on the table

EUR/JPY fades the move to fresh 2021 highs around 130.70.
Next on the upside comes in the 131.00 yarstick.

Pablo Piovano FXStreet

EUR/JPY corrects lower after clinching new yearly tops in the vicinity of 130.70 on Wednesday.

The recovery remains healthy and a surpass of YTD peaks should put the 131.00 level back on the radar. While above the short-term support line in the 128.30 region, extra gains remain likely. This area of contention is reinforced by the proximity of the 50-day SMA at 128.61.

Further north of 131.00 comes in the 2018 high at 131.98 (July 17).

In the meantime, while above the 200-day SMA at 125.55 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	129.94
Today Daily Change	58
Today Daily Change %	-0.36
Today daily open	130.41

Trends
Daily SMA20	129.72
Daily SMA50	128.58
Daily SMA100	127.24
Daily SMA200	125.6

Levels
Previous Daily High	130.69
Previous Daily Low	130.14
Previous Weekly High	130.34
Previous Weekly Low	128.83
Previous Monthly High	130.67
Previous Monthly Low	128.18
Daily Fibonacci 38.2%	130.48
Daily Fibonacci 61.8%	130.35
Daily Pivot Point S1	130.14
Daily Pivot Point S2	129.87
Daily Pivot Point S3	129.59
Daily Pivot Point R1	130.68
Daily Pivot Point R2	130.96
Daily Pivot Point R3	131.23

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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