EUR/JPY Price Analysis: No change to the neutral outlook

EUR/JPY extends the consolidative pattern around 130.00.
A surpass of YTD highs should put 131.00 on the horizon.

Pablo Piovano FXStreet

EUR/JPY remains side-lined around the 130.00 neighbourhood for yet another session on turnaround Tuesday.

Further consolidation around current levels appears favoured in the very near-term. The resumption of the bull trend faces the next hurdle at the 2021 high near 130.70 (April 7) ahead of the 131.00 mark.

While above the short-term support line around 128.50, extra gains remain on the table, with the longer term target at the 2018 high at 131.98 (July 17). This area of contention is reinforced by the proximity of the 50-day SMA at 128.83.

In the meantime, while above the 200-day SMA at 125.69 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.05
Today Daily Change	50
Today Daily Change %	-0.17
Today daily open	130.27

Trends
Daily SMA20	129.74
Daily SMA50	128.8
Daily SMA100	127.45
Daily SMA200	125.74

Levels
Previous Daily High	130.61
Previous Daily Low	129.9
Previous Weekly High	130.69
Previous Weekly Low	129.57
Previous Monthly High	130.67
Previous Monthly Low	128.18
Daily Fibonacci 38.2%	130.17
Daily Fibonacci 61.8%	130.34
Daily Pivot Point S1	129.91
Daily Pivot Point S2	129.54
Daily Pivot Point S3	129.19
Daily Pivot Point R1	130.62
Daily Pivot Point R2	130.98
Daily Pivot Point R3	131.34

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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