EUR/JPY Price Analysis: Looks firmer and approaches 123.00

The bull run in EUR/JPY remains well and sound so far.
The rally now targets the 123.00 level and above.

Pablo Piovano FXStreet

EUR/JPY keeps pushing higher amidst the generalized better tone in the risk complex, managing well to extend the upside momentum and trade at shouting distance from the 123.00 neighbourhood.

Immediately above emerges the 123.30 region, where sits July 2019 highs. Further up, there are no relevant hurdles until April’s top in the 126.80 zone.

While above the 200-day SMA just below the 121.00 mark, the outlook on the cross is expected to remain bullish.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	122.71
Today Daily Change	37
Today Daily Change %	0.12
Today daily open	122.56

Trends
Daily SMA20	121.64
Daily SMA50	121
Daily SMA100	120.03
Daily SMA200	120.94

Levels
Previous Daily High	122.72
Previous Daily Low	122.18
Previous Weekly High	121.85
Previous Weekly Low	120.17
Previous Monthly High	124.2
Previous Monthly Low	119.98
Daily Fibonacci 38.2%	122.52
Daily Fibonacci 61.8%	122.39
Daily Pivot Point S1	122.25
Daily Pivot Point S2	121.95
Daily Pivot Point S3	121.71
Daily Pivot Point R1	122.79
Daily Pivot Point R2	123.03
Daily Pivot Point R3	123.33

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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