EUR/JPY Price Analysis: Initial resistance comes around 148.00

EUR/JPY’s recovery appears to have met initial hurdle near 148.00.
The continuation of the rebound targets the weekly high near 149.30.

Pablo Piovano FXStreet

The ongoing upside momentum in EUR/JPY struggles to surpass the 148.00 region with conviction on Tuesday.

Once the 148.00 area is surpassed, the cross should be able to challenge the weekly peak at 149.26 (May 8). The surpass of this level could pave the way for a potential test of the YTD high at 151.61 (May 2).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 143.11.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	147.97
Today Daily Change	50
Today Daily Change %	-0.04
Today daily open	148.03

Trends
Daily SMA20	148.15
Daily SMA50	145.46
Daily SMA100	143.6
Daily SMA200	143.09

Levels
Previous Daily High	148.18
Previous Daily Low	147.22
Previous Weekly High	149.27
Previous Weekly Low	146.14
Previous Monthly High	150.44
Previous Monthly Low	142.55
Daily Fibonacci 38.2%	147.81
Daily Fibonacci 61.8%	147.59
Daily Pivot Point S1	147.44
Daily Pivot Point S2	146.86
Daily Pivot Point S3	146.49
Daily Pivot Point R1	148.4
Daily Pivot Point R2	148.76
Daily Pivot Point R3	149.35

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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