EUR/JPY Price Analysis: Extra gains seen above 124.30

EUR/JPY’s upside remains capped by the 3-month resistance line.
Further up aligns the minor hurdle at the 55-day SMA (124.63).

Pablo Piovano FXStreet

EUR/JPY’s recent advance appears to have met a tough barrier at the 3-month resistance line in the 124.20/30 band.

The cross managed to regain attention after bottoming out in the 122.40 area on Monday, where also converges the 100-day SMA. Buyers are expected to clear the 124.20/30 area to allow for extra gains to, initially, the 55-day SMA near 124.60 ahead of 126.46 (September 10 high).

Above the 200-day SMA, today at 120.92, the outlook on EUR/JPY is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	123.99
Today Daily Change	48
Today Daily Change %	0.26
Today daily open	123.67

Trends
Daily SMA20	124.32
Daily SMA50	124.8
Daily SMA100	122.67
Daily SMA200	120.94

Levels
Previous Daily High	124.25
Previous Daily Low	123.53
Previous Weekly High	123.94
Previous Weekly Low	122.52
Previous Monthly High	127.08
Previous Monthly Low	122.38
Daily Fibonacci 38.2%	123.81
Daily Fibonacci 61.8%	123.98
Daily Pivot Point S1	123.38
Daily Pivot Point S2	123.1
Daily Pivot Point S3	122.67
Daily Pivot Point R1	124.1
Daily Pivot Point R2	124.53
Daily Pivot Point R3	124.82

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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