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EUR/JPY Price Analysis: Next target now emerges at 160.00

  • EUR/JPY climbs to fresh highs well past 158.00 on Thursday.
  • Further upside could now see 160.00 revisited in the near term.

EUR/JPY extends the advance for the fifth consecutive session and finally surpasses the key 158.00 hurdle to print new peaks in levels last seen in September 2008 around 158.90.

So far, the continuation of the upside momentum appears likely with an immediate target emerging at he round level of 160.00 in the short-term horizon. The breakout 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 146.92.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price158.82
Today Daily Change134
Today Daily Change %0.68
Today daily open157.75
 
Trends
Daily SMA20156.18
Daily SMA50154.95
Daily SMA100151.02
Daily SMA200146.88
 
Levels
Previous Daily High157.9
Previous Daily Low156.91
Previous Weekly High157.5
Previous Weekly Low155.11
Previous Monthly High158.05
Previous Monthly Low151.41
Daily Fibonacci 38.2%157.52
Daily Fibonacci 61.8%157.29
Daily Pivot Point S1157.14
Daily Pivot Point S2156.54
Daily Pivot Point S3156.16
Daily Pivot Point R1158.13
Daily Pivot Point R2158.51
Daily Pivot Point R3159.12

Author

Pablo Piovano

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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