EUR/JPY Price Analysis: Near-term upside capped around 138.00

EUR/JPY trades in an inconclusive note below 137.00 on Tuesday.
Further side-lined trading remains in the pipeline near term.

Pablo Piovano FXStreet

EUR/JPY extends the bearish start of the week and drops to the sub-137.00 area on Tuesday.

The cross has likely moved into a consolidative phase awaiting for further catalysts in the short term. The continuation of the uptrend is a likely scenario in case the cross manages to surpass the 138.00 area. That said, the immediate hurdle still emerges at the 2022 high around 140.00 (April 21) prior to the June 2015 high at 141.05.

In the meantime, while above the 200-day SMA at 130.76, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	136.78
Today Daily Change	57
Today Daily Change %	0.05
Today daily open	136.71

Trends
Daily SMA20	136.65
Daily SMA50	133.18
Daily SMA100	131.64
Daily SMA200	130.76

Levels
Previous Daily High	137.64
Previous Daily Low	136.52
Previous Weekly High	139.19
Previous Weekly Low	134.78
Previous Monthly High	140
Previous Monthly Low	134.3
Daily Fibonacci 38.2%	136.95
Daily Fibonacci 61.8%	137.21
Daily Pivot Point S1	136.27
Daily Pivot Point S2	135.84
Daily Pivot Point S3	135.15
Daily Pivot Point R1	137.39
Daily Pivot Point R2	138.08
Daily Pivot Point R3	138.51

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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