EUR/JPY Price Analysis: Further upside in the pipeline with target at 130.00

EUR/JPY extends the upside momentum beyond 129.00.
Immediately to the upside emerges the YTD high near 130.00.

Pablo Piovano FXStreet

EUR/JPY’s weekly recovery stays well and sound for yet another session and manage to surpass the key barrier at 129.00 the figure.

If bulls remain in control, then the next target should emerge at the 2021 highs just below 130.00 (February 25). Further north of this area comes in 130.14 (November 7 2018) ahead of the summer 2018 high at 131.98 (July 17).

Reinforcing the idea of extra gains, EUR/JPY keeps trading above the immediate support line (off November 19 2020 low) near 127.00, where also converges the 50-day SMA.

Looking at the broader picture, while above the 200-day SMA at 124.46 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	129.28
Today Daily Change	38
Today Daily Change %	0.18
Today daily open	129.05

Trends
Daily SMA20	127.79
Daily SMA50	126.93
Daily SMA100	125.69
Daily SMA200	124.52

Levels
Previous Daily High	129.46
Previous Daily Low	128.74
Previous Weekly High	129.98
Previous Weekly Low	127.5
Previous Monthly High	129.98
Previous Monthly Low	126.1
Daily Fibonacci 38.2%	129.02
Daily Fibonacci 61.8%	129.19
Daily Pivot Point S1	128.71
Daily Pivot Point S2	128.37
Daily Pivot Point S3	127.99
Daily Pivot Point R1	129.42
Daily Pivot Point R2	129.8
Daily Pivot Point R3	130.14

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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