EUR/JPY Price Analysis: Extra upside on the cards above 134.50

EUR/JPY falters once again around the 136.70 region.
Extra gains look likely while above the 134.50 zone.

Pablo Piovano FXStreet

EUR/JPY corrects lower after failing once again to extend the recovery further north of the 136.70 area on Friday.

The succession of higher lows since mid-May leaves the prospects for further upside well on the table for the time being. That said, while above the 2-month support line near 134.50, further upside appears likely with the next target at recent peaks in the 136.80 region ahead of the May high at 138.31 (May 9).

In the meantime, while above the 200-day SMA at 131.36, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	136.17
Today Daily Change	70
Today Daily Change %	-0.12
Today daily open	136.33

Trends
Daily SMA20	136.15
Daily SMA50	135.88
Daily SMA100	132.8
Daily SMA200	131.36

Levels
Previous Daily High	136.64
Previous Daily Low	135.23
Previous Weekly High	136.7
Previous Weekly Low	133.75
Previous Monthly High	140
Previous Monthly Low	134.3
Daily Fibonacci 38.2%	136.1
Daily Fibonacci 61.8%	135.77
Daily Pivot Point S1	135.49
Daily Pivot Point S2	134.66
Daily Pivot Point S3	134.09
Daily Pivot Point R1	136.9
Daily Pivot Point R2	137.47
Daily Pivot Point R3	138.3

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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