EUR/JPY Price Analysis: Rally looks unabated so far

EUR/JPY advances to new yearly highs beyond 161.00.
There are no up-barriers of note until the 2008 top near 170.00.

Pablo Piovano FXStreet

EUR/JPY extends the march north of the fifth session in a row and clinches a new 2023 peak past the 161.00 hurdle on Wednesday.

Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.05 (November 8) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 151.92.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	160.98
Today Daily Change	36
Today Daily Change %	0.05
Today daily open	160.9

Trends
Daily SMA20	158.94
Daily SMA50	158.19
Daily SMA100	157.57
Daily SMA200	151.86

Levels
Previous Daily High	161.03
Previous Daily Low	160.43
Previous Weekly High	160.85
Previous Weekly Low	157.7
Previous Monthly High	160.85
Previous Monthly Low	154.39
Daily Fibonacci 38.2%	160.8
Daily Fibonacci 61.8%	160.66
Daily Pivot Point S1	160.54
Daily Pivot Point S2	160.19
Daily Pivot Point S3	159.94
Daily Pivot Point R1	161.14
Daily Pivot Point R2	161.38
Daily Pivot Point R3	161.74

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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