EUR/JPY Price Analysis: Near-term target remains at 138.30

EUR/JPY meets quite a tough barrier near 136.80.
Further gains are expected to challenge the May highs.

Pablo Piovano FXStreet

EUR/JPY partially reverses Monday’s strong advance and comes under pressure following another failed attempt to surpass the 136.80 region.

If the cross manages to leave behind the weekly highs in the 136.70/80 band, then it could attempt to challenge the May high at 138.31 (May 9) prior to the 2022 peak at 140.00 (April 21).

In the meantime, while above the 200-day SMA at 131.24, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	136.43
Today Daily Change	76
Today Daily Change %	-0.23
Today daily open	136.74

Trends
Daily SMA20	136.15
Daily SMA50	135.55
Daily SMA100	132.65
Daily SMA200	131.24

Levels
Previous Daily High	136.8
Previous Daily Low	134.66
Previous Weekly High	136.7
Previous Weekly Low	133.75
Previous Monthly High	140
Previous Monthly Low	134.3
Daily Fibonacci 38.2%	135.98
Daily Fibonacci 61.8%	135.48
Daily Pivot Point S1	135.34
Daily Pivot Point S2	133.93
Daily Pivot Point S3	133.19
Daily Pivot Point R1	137.48
Daily Pivot Point R2	138.21
Daily Pivot Point R3	139.62

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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