EUR/JPY Price Analysis: Immediate resistance lines up around 144.00

EUR/JPY fails once again to surpass the 144.00 zone on Wednesday.
Gains could likely accelerate on a breakout of the 2022 high at 144.25.

Pablo Piovano FXStreet

EUR/JPY trades on the defensive for the first time after three consecutive daily advances on Wednesday.

Despite the corrective move, the cross keeps the upside momentum well and sound and the continuation of this move should put a potential test of the 2022 high at 144.25 (June 8) back on the radar sooner rather than later.

Once cleared, the next target of note should come at the 2015 high at 145.32 (January 2) prior to the 2014 high at 149.78 (December 8).

In the meantime, while above the 3-month support line near 137.60, the short-term outlook for the cross should remain bullish. This area appears reinforced by the proximity of the 55-day SMA.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	143.38
Today Daily Change	135
Today Daily Change %	-0.42
Today daily open	143.98

Trends
Daily SMA20	140.07
Daily SMA50	137.99
Daily SMA100	134.74
Daily SMA200	132.32

Levels
Previous Daily High	144
Previous Daily Low	141.9
Previous Weekly High	141.97
Previous Weekly Low	137.93
Previous Monthly High	138.32
Previous Monthly Low	132.66
Daily Fibonacci 38.2%	143.2
Daily Fibonacci 61.8%	142.7
Daily Pivot Point S1	142.59
Daily Pivot Point S2	141.2
Daily Pivot Point S3	140.49
Daily Pivot Point R1	144.68
Daily Pivot Point R2	145.39
Daily Pivot Point R3	146.78

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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