EUR/JPY Price Analysis: Rebound now targets the YTD high above 124.00

EUR/JP’s rebound pierced the 122.00 mark on Tuesday.
Next of relevance on the upside is the 2020 high beyond 124.00.

Pablo Piovano FXStreet

EUR/JPY is prolonging the bounce off recent lows for yet another session, briefly managing to surpass the 122.00 mark although losing some composure afterwards.

If bulls manage to remain in control, then a potential move to the yearly peaks around 124.40 (June 5) should return to the fore.

In the meantime, while above the 200-day SMA, the outlook on the cross is expected to remain positive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	121.65
Today Daily Change	69
Today Daily Change %	0.04
Today daily open	121.6

Trends
Daily SMA20	120.24
Daily SMA50	118.11
Daily SMA100	118.77
Daily SMA200	119.57

Levels
Previous Daily High	121.64
Previous Daily Low	120.34
Previous Weekly High	124.12
Previous Weekly Low	120.26
Previous Monthly High	119.9
Previous Monthly Low	114.43
Daily Fibonacci 38.2%	121.14
Daily Fibonacci 61.8%	120.83
Daily Pivot Point S1	120.74
Daily Pivot Point S2	119.89
Daily Pivot Point S3	119.44
Daily Pivot Point R1	122.04
Daily Pivot Point R2	122.49
Daily Pivot Point R3	123.34

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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