EUR/JPY Price Analysis: Immediately to the upside comes 139.00

EUR/JPY breaks above the 138.00 mark to clinch new highs.
The rally now targets the 139.00 mark in the near term.

Pablo Piovano FXStreet

EUR/JPY has quickly left behind the 138.00 barrier and records new YTD peaks around 138.80 on Tuesday.

Further upside thus appears on the cards with the immediate target at the August 2015 high at 138.99 (August 21) prior to the round level at 140.00. Further up is seen the June 2015 peak at 141.05 (June 4).

In the meantime, while above the 200-day SMA at 130.38, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	138.49
Today Daily Change	201
Today Daily Change %	1.12
Today daily open	136.96

Trends
Daily SMA20	135.33
Daily SMA50	131.92
Daily SMA100	130.71
Daily SMA200	130.38

Levels
Previous Daily High	137.03
Previous Daily Low	136.45
Previous Weekly High	137.13
Previous Weekly Low	135.28
Previous Monthly High	137.54
Previous Monthly Low	124.39
Daily Fibonacci 38.2%	136.81
Daily Fibonacci 61.8%	136.67
Daily Pivot Point S1	136.6
Daily Pivot Point S2	136.24
Daily Pivot Point S3	136.03
Daily Pivot Point R1	137.17
Daily Pivot Point R2	137.39
Daily Pivot Point R3	137.75

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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