EUR/JPY Price Analysis: Next target remains at 122.00

EUR/JPY is attempting to break out the consolidation near 121.00.
The 200-day SMA near 119.60 offered decent contention so far.

Pablo Piovano FXStreet

Following a failed attempt to surpass the 121.00 mark last week, EUR/JPY has moved into a consolidation range, which is so far supported around the mid-119.00s.

While above the key 200-day SMA, today at 119.58, the outlook on the cross is seen as positive.

That said, the next target on the upside is located at the 122.00 neighbourhood ahead of the 2020 peak in the 124.40 zone.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	120.9
Today Daily Change	53
Today Daily Change %	-0.02
Today daily open	120.93

Trends
Daily SMA20	121.21
Daily SMA50	118.63
Daily SMA100	118.77
Daily SMA200	119.63

Levels
Previous Daily High	121.36
Previous Daily Low	120.05
Previous Weekly High	121.1
Previous Weekly Low	119.32
Previous Monthly High	119.9
Previous Monthly Low	114.43
Daily Fibonacci 38.2%	120.86
Daily Fibonacci 61.8%	120.55
Daily Pivot Point S1	120.2
Daily Pivot Point S2	119.47
Daily Pivot Point S3	118.89
Daily Pivot Point R1	121.51
Daily Pivot Point R2	122.09
Daily Pivot Point R3	122.82

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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