EUR/JPY Price Analysis: Next on the upside comes in 131.98

EUR/JPY clinches new YTD highs around 131.70.
Further upside now targets the 2018 high near 132.00.

Pablo Piovano FXStreet

EUR/JPY extends the break above the April’s consolidation and records fresh 2021 tops in the 131.65/70 band on Wednesday.

The cross manages to leave behind the recent rangebound theme and surpasses the 131.00 mark with certain conviction. That said, the next target of note now comes in at the 2018 high at 131.98 (July 17).

In the meantime, while above the 5-month support line near 129.10 further gains remain well on the cards in the near-term.

Looking at the broader picture, the positive stance in EUR/JPY is seen unchanged while above the 200-day SMA, today at 126.18.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	131.51
Today Daily Change	132
Today Daily Change %	0.05
Today daily open	131.45

Trends
Daily SMA20	130.31
Daily SMA50	129.54
Daily SMA100	128
Daily SMA200	126.2

Levels
Previous Daily High	131.5
Previous Daily Low	130.57
Previous Weekly High	130.97
Previous Weekly Low	129.59
Previous Monthly High	130.67
Previous Monthly Low	128.18
Daily Fibonacci 38.2%	131.14
Daily Fibonacci 61.8%	130.93
Daily Pivot Point S1	130.85
Daily Pivot Point S2	130.24
Daily Pivot Point S3	129.92
Daily Pivot Point R1	131.77
Daily Pivot Point R2	132.1
Daily Pivot Point R3	132.7

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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