EUR/JPY Price Analysis: Immediately to the upside aligns 131.90

EUR/JPY regains upside traction and bounces off 129.30.
The next up barrier comes at the weekly high at 131.90.

Pablo Piovano FXStreet

EUR/JPY reverses three consecutive daily retracements and regains some traction further north of the 130.00 mark on Tuesday.

Further recovery in EUR/JPY now faces a temporary hurdle at the 10-day SMA at 130.96. If cleared, then a potential test of the weekly high at 131.90 should start emerging on the horizon in the near term.

While above the 2-month line near 128.80, further upside in the cross should remain on the table in the very near term. On the longer term, the outlook for the cross is seen as negative as long as it trades below the 200-day SMA, today at 130.40.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.48
Today Daily Change	133
Today Daily Change %	0.45
Today daily open	129.9

Trends
Daily SMA20	130.45
Daily SMA50	130.1
Daily SMA100	130.19
Daily SMA200	130.45

Levels
Previous Daily High	130.91
Previous Daily Low	129.76
Previous Weekly High	131.91
Previous Weekly Low	130.04
Previous Monthly High	131.6
Previous Monthly Low	128.25
Daily Fibonacci 38.2%	130.2
Daily Fibonacci 61.8%	130.47
Daily Pivot Point S1	129.47
Daily Pivot Point S2	129.04
Daily Pivot Point S3	128.31
Daily Pivot Point R1	130.62
Daily Pivot Point R2	131.34
Daily Pivot Point R3	131.77

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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