EUR/JPY Price Analysis: Next key resistance aligns at 129.25

EUR/JPY tests the 2019 high in the mid-127.00s.
Further up now sits the December 2018 high at 129.25.

Pablo Piovano FXStreet

EUR/JPY gives away part of the recent gains after clinching yearly highs in the mid-127.00s on Thursday. This level is coincident with the 2019 high (March 1).

If the upside momentum gathers further pace, then there is no relevant hurdle until the December 2018 high at 129.25. If, on the opposite side, sellers return to the market, the next region of contention emerges in the 126.00 neighbourhood, the lower bound of the recent multi-week consolidative theme.

Looking at the broader picture, while above the 200-day SMA at 122.48 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	127.2
Today Daily Change	51
Today Daily Change %	-0.13
Today daily open	127.37

Trends
Daily SMA20	126.43
Daily SMA50	125.11
Daily SMA100	124.75
Daily SMA200	122.56

Levels
Previous Daily High	127.49
Previous Daily Low	126.92
Previous Weekly High	127.24
Previous Weekly Low	126.05
Previous Monthly High	127.24
Previous Monthly Low	124.38
Daily Fibonacci 38.2%	127.27
Daily Fibonacci 61.8%	127.14
Daily Pivot Point S1	127.03
Daily Pivot Point S2	126.69
Daily Pivot Point S3	126.46
Daily Pivot Point R1	127.6
Daily Pivot Point R2	127.84
Daily Pivot Point R3	128.18

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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