EUR/JPY Price Analysis: Range bound theme unchanged so far

EUR/JPY resumes the upside after two sessions of losses.
Further consolidation should not be ruled out in the near term.

Pablo Piovano FXStreet

EUR/JPY reverses two consecutive daily pullbacks after briefly dropping to the 157.00 region, where the provisional 55-day SMA also sits.

In the meantime, the cross appears poised to maintain the consolidative mood in the very near term ahead of the potential resumption of the uptrend. That said, immediate hurdle emerges at the recent 2023 peak at 159.76 (August 30) before 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 148.35.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	157.81
Today Daily Change	99
Today Daily Change %	0.16
Today daily open	157.56

Trends
Daily SMA20	158.38
Daily SMA50	157.13
Daily SMA100	153.91
Daily SMA200	148.31

Levels
Previous Daily High	158.52
Previous Daily Low	157.36
Previous Weekly High	159.76
Previous Weekly Low	157.06
Previous Monthly High	159.76
Previous Monthly Low	155.53
Daily Fibonacci 38.2%	157.81
Daily Fibonacci 61.8%	158.08
Daily Pivot Point S1	157.11
Daily Pivot Point S2	156.65
Daily Pivot Point S3	155.94
Daily Pivot Point R1	158.27
Daily Pivot Point R2	158.98
Daily Pivot Point R3	159.43

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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