EUR/JPY Price Analysis: Further gains could challenge 160.00 near term

EUR/JPY keeps the range bound trade around the 159.00 region.
Extra upside could test the 160.00 region in the short term.

Pablo Piovano FXStreet

EUR/JPY prints decent gains around the 159.00 zone amidst the so far multi-day consolidative mood on Wednesday.

So far, the continuation of the upside momentum appears likely with an immediate target emerging at the round level of 160.00. The breakout 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 147.16.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	159.11
Today Daily Change	51
Today Daily Change %	0.20
Today daily open	158.8

Trends
Daily SMA20	156.81
Daily SMA50	155.7
Daily SMA100	151.71
Daily SMA200	147.14

Levels
Previous Daily High	159.34
Previous Daily Low	158.54
Previous Weekly High	159.22
Previous Weekly Low	155.81
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	159.03
Daily Fibonacci 61.8%	158.84
Daily Pivot Point S1	158.45
Daily Pivot Point S2	158.09
Daily Pivot Point S3	157.65
Daily Pivot Point R1	159.25
Daily Pivot Point R2	159.69
Daily Pivot Point R3	160.05

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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