EUR/JPY Price Analysis: Next target emerges at the 2020 highs

  • EUR/JPY surpassed the key barriers at 125.00 and 126.00.
  • Further upside now targets the YTD highs around 127.00.

EUR/JPY adds to the recent strong advance and breaks above the key resistance around 126.00 following Tuesday’s breakout of another important hurdle in the 125.00 neighbourhood.

If the buying pressure manages to gather further traction, then the 2020 peaks in the 127.00 zone (September 1) should return to the investors’ radar. Some correction, however, could be shaping up as the cross flirts with the overbought territory.

Looking at the broader picture, while above the 200-day SMA at 121.56 the outlook should remain constructive. The October’s low around 121.60 also reinforces this key contention zone.

EUR/JPY daily chart


Today last price 126.21
Today Daily Change 53
Today Daily Change % 0.23
Today daily open 125.92
Daily SMA20 123.86
Daily SMA50 123.69
Daily SMA100 124.21
Daily SMA200 121.57
Previous Daily High 125.96
Previous Daily Low 124.38
Previous Weekly High 124.57
Previous Weekly Low 123.08
Previous Monthly High 125.14
Previous Monthly Low 121.7
Daily Fibonacci 38.2% 125.35
Daily Fibonacci 61.8% 124.98
Daily Pivot Point S1 124.88
Daily Pivot Point S2 123.84
Daily Pivot Point S3 123.3
Daily Pivot Point R1 126.45
Daily Pivot Point R2 126.99
Daily Pivot Point R3 128.03



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