EUR/JPY Price Analysis: Next stop higher 138.30

EUR/JPY comes under some pressure and reverses the recent upside.
No news on the topside, where the 138.30 region emerges as the next target.

Pablo Piovano FXStreet

EUR/JPY retains its upsid bias but gives away part of the recent strong advance and revisits the sub-136.00 region on Wednesday.

If the recovery picks pace again, the cross could see downside mitigated on a close above the May peak at 138.31 (May 9). The surpassing of the latter should put a potential visit to the 2022 high at 140.00 (April 21) back on the radar.

In the meantime, while above the 200-day SMA at 131.11, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	135.86
Today Daily Change	110
Today Daily Change %	-0.55
Today daily open	136.61

Trends
Daily SMA20	136.76
Daily SMA50	134.98
Daily SMA100	132.45
Daily SMA200	131.12

Levels
Previous Daily High	136.7
Previous Daily Low	134.5
Previous Weekly High	138.32
Previous Weekly Low	132.66
Previous Monthly High	140
Previous Monthly Low	134.3
Daily Fibonacci 38.2%	135.86
Daily Fibonacci 61.8%	135.34
Daily Pivot Point S1	135.17
Daily Pivot Point S2	133.73
Daily Pivot Point S3	132.97
Daily Pivot Point R1	137.37
Daily Pivot Point R2	138.14
Daily Pivot Point R3	139.57

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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