EUR/JPY Price Analysis: Further upside likely near term

EUR/JPY extends the recovery to the vicinity of 138.00 on Tuesday.
Further up now emerges the interim 55-day SMA around 139.50.

Pablo Piovano FXStreet

EUR/JPY keeps pushing higher and already surpasses the 138.00 mark on Tuesday, up for the sixth consecutive session.

Considering the ongoing price action, further upside in the cross appears likely for the time being. That said, the next temporary target aligns at the 55-day SMAs, today at 139.57. If the cross clears the latter, the door could then open to a probable visit to the July top at 142.32 (July 21).

While above the 200-day SMA at 133.82, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	137.97
Today Daily Change	102
Today Daily Change %	0.40
Today daily open	137.42

Trends
Daily SMA20	138.2
Daily SMA50	139.89
Daily SMA100	137.99
Daily SMA200	133.82

Levels
Previous Daily High	137.93
Previous Daily Low	137.07
Previous Weekly High	137.76
Previous Weekly Low	133.4
Previous Monthly High	142.43
Previous Monthly Low	135.55
Daily Fibonacci 38.2%	137.4
Daily Fibonacci 61.8%	137.6
Daily Pivot Point S1	137.01
Daily Pivot Point S2	136.61
Daily Pivot Point S3	136.16
Daily Pivot Point R1	137.87
Daily Pivot Point R2	138.33
Daily Pivot Point R3	138.73

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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