EUR/JPY Price Analysis: No changes to the bullish bias near term

EUR/JPY comes under pressure following new 2023 peaks.
The next up barrier remains at the key round level at 160.00.

Pablo Piovano FXStreet

EUR/JPY reverses a five-day positive streak and breaks below the 159.00 support on Thursday.

The continuation of the uptrend could see the cross challenging the recent 2023 peak at near 159.76 (August 30) 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 147.92.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.62
Today Daily Change	132
Today Daily Change %	-0.71
Today daily open	159.75

Trends
Daily SMA20	158.12
Daily SMA50	157.03
Daily SMA100	153.25
Daily SMA200	147.88

Levels
Previous Daily High	159.76
Previous Daily Low	158.45
Previous Weekly High	159.49
Previous Weekly Low	156.87
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	159.26
Daily Fibonacci 61.8%	158.95
Daily Pivot Point S1	158.88
Daily Pivot Point S2	158.01
Daily Pivot Point S3	157.57
Daily Pivot Point R1	160.19
Daily Pivot Point R2	160.63
Daily Pivot Point R3	161.5

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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