EUR/JPY Price Analysis: Potential consolidation around the 200-day SMA

EUR/JPY reverses Monday’s sharp pullback and regains 131.00.
Next on the upside comes the YTD highs near 131.60.

Pablo Piovano FXStreet

EUR/JPY manages to regain the smile and reverses the deep pullback seen at the beginning of the year.

Further consolidation in the cross appears likely in light of the ongoing price action, always around the key 200-day SMA in the mid-130.00s. The breakout of this scheme should lift EUR/JPY to the 131.50/60 band, while the 130.00 neighbourhood is expected to hold the downside for now.

While below the 200-day SMA, today at 130.52, the near-term outlook for EUR/JPY should remain negative.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.81
Today Daily Change	61
Today Daily Change %	0.21
Today daily open	130.54

Trends
Daily SMA20	129.79
Daily SMA50	129.57
Daily SMA100	129.96
Daily SMA200	130.57

Levels
Previous Daily High	131.37
Previous Daily Low	130.16
Previous Weekly High	131.6
Previous Weekly Low	130.02
Previous Monthly High	131.04
Previous Monthly Low	127.38
Daily Fibonacci 38.2%	130.62
Daily Fibonacci 61.8%	130.91
Daily Pivot Point S1	130.01
Daily Pivot Point S2	129.48
Daily Pivot Point S3	128.8
Daily Pivot Point R1	131.22
Daily Pivot Point R2	131.9
Daily Pivot Point R3	132.43

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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