EUR/JPY Price Analysis: Next stop at the 160.00 mark

EUR/JPY extends the rally north of 159.00 on Wednesday.
Further up emerges the key round level at 160.00.

Pablo Piovano FXStreet

EUR/JPY keeps the buying pressure well and sound and surpasses the 159.00 hurdle on Wednesday.

If the move higher picks up extra pace, the cross should challenge recent 2023 highs near 159.50 (August 22) ahead of the key round level at 160.00. The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 147.84.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	159.31
Today Daily Change	90
Today Daily Change %	0.37
Today daily open	158.72

Trends
Daily SMA20	157.98
Daily SMA50	156.95
Daily SMA100	153.12
Daily SMA200	147.81

Levels
Previous Daily High	159.06
Previous Daily Low	158.24
Previous Weekly High	159.49
Previous Weekly Low	156.87
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	158.75
Daily Fibonacci 61.8%	158.56
Daily Pivot Point S1	158.29
Daily Pivot Point S2	157.86
Daily Pivot Point S3	157.47
Daily Pivot Point R1	159.11
Daily Pivot Point R2	159.5
Daily Pivot Point R3	159.93

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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