EUR/JPY Price Analysis: Immediate hurdle remains around 158.00

EUR/JPY comes under pressure following a test of 157.50.
Extra gains continue to target the 2023 high beyond 158.00.

Pablo Piovano FXStreet

EUR/JPY reverses three consecutive daily advances and faces some selling pressure soon after testing weekly highs near 157.50 on Wednesday.

The continuation of the upside momentum should initially target the 2023 high at 158.04 (July 21), while the surpass of this levels exposes a move to the round level of 160.00 in the not-so-distant future.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.58.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	156.88
Today Daily Change	126
Today Daily Change %	-0.37
Today daily open	157.46

Trends
Daily SMA20	155.84
Daily SMA50	154.15
Daily SMA100	150.12
Daily SMA200	146.57

Levels
Previous Daily High	157.49
Previous Daily Low	156.39
Previous Weekly High	157.8
Previous Weekly Low	151.41
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	157.07
Daily Fibonacci 61.8%	156.81
Daily Pivot Point S1	156.74
Daily Pivot Point S2	156.02
Daily Pivot Point S3	155.64
Daily Pivot Point R1	157.83
Daily Pivot Point R2	158.21
Daily Pivot Point R3	158.93

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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