EUR/JPY Price Analysis: Extra upside in store near term

EUR/JPY flirts with two-day highs above 159.00.
Extra gains could see the 160.00 zone revisited in the short term.

Pablo Piovano FXStreet

EUR/JPY reverses two consecutive daily pullbacks and reclaims the area beyond 159.00 the figure on Monday.

So far, the emergence of some consolidation seems probable in the very near term ahead of the continuation of the upside. That said, the immediate target remains at the round level of 160.00.

The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 147.38.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	159.12
Today Daily Change	142
Today Daily Change %	0.66
Today daily open	158.07

Trends
Daily SMA20	157.1
Daily SMA50	156.23
Daily SMA100	152.14
Daily SMA200	147.34

Levels
Previous Daily High	158.59
Previous Daily Low	157.66
Previous Weekly High	159.34
Previous Weekly Low	157.66
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	158.01
Daily Fibonacci 61.8%	158.23
Daily Pivot Point S1	157.62
Daily Pivot Point S2	157.18
Daily Pivot Point S3	156.69
Daily Pivot Point R1	158.55
Daily Pivot Point R2	159.04
Daily Pivot Point R3	159.48

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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