EUR/JPY Price Analysis: Further consolidation looks likely

EUR/JPY extends the consolidative mood above 130.00.
Further upside should meet a minor resistance at 130.67.

Pablo Piovano FXStreet

EUR/JPY trades within a narrow range and extends the recent inconclusive price action, always above the 130.00 mark for the time being.

If the cross manages to break above the current rangebound theme, then there is an interim hurdle at the Fibo level near 130.70, also coincident with weekly highs. A surpass of this level should put the weekly top at 131.08 back on the radar (July 13). Above this area, the selling pressure is expected to subside.

In the meantime, while above the 200-day SMA at 128.62, the outlook for EUR/JPY is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.26
Today Daily Change	39
Today Daily Change %	0.08
Today daily open	130.16

Trends
Daily SMA20	130.19
Daily SMA50	131.73
Daily SMA100	131.24
Daily SMA200	128.66

Levels
Previous Daily High	130.5
Previous Daily Low	130.02
Previous Weekly High	130.57
Previous Weekly Low	129.55
Previous Monthly High	132.43
Previous Monthly Low	128.6
Daily Fibonacci 38.2%	130.2
Daily Fibonacci 61.8%	130.32
Daily Pivot Point S1	129.95
Daily Pivot Point S2	129.75
Daily Pivot Point S3	129.48
Daily Pivot Point R1	130.43
Daily Pivot Point R2	130.7
Daily Pivot Point R3	130.91

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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