EUR/JPY Price Analysis: Reclaims 160.00 amid upbeat sentiment

EUR/JPY rises to 160.07 amid risk-on mood, US equity gains, surpassing key 160.00 mark.
Technical outlook hints at further rise, aiming for January 19 high at 161.81, with 162.00 as next goal.
Falling below 160.00 may lead to support retest at Tenkan-Sen, Kijun-Sen, suggesting Ichimoku Cloud consolidation.

Christian Borjon Valencia FXStreet

The EUR/JPY edged higher late during Friday’s North American session, with buyers reclaiming the 160.00 figure on a risk-on impulse, as US equities traded with solid gains. At the time of writing the cross-pair exchanges hands at 160.07

After dipping inside the Ichimoku Cloud (Kumo) and hitting a weekly low of 158.08, the EUR/JPY recovered ground and regained key resistance levels, with buyers clearing the Tenkan-Sen at 159.83, which opened the door toward the 160.00 mark. If buyers achieve a daily close above, that could open the door to challenge the next cycle high at 161.81, the January 19 high. Further upside is seen at 162.00.

Failure at 160.00 could motivate sellers to drive prices inside the Kumo towards the first support level seen at the Tenkan-Sen, followed by the 159.00 figure, ahead of challenging Kijun-Sen at 158.47.

EUR/JPY Price Action – Daily Chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price	160.07
Today Daily Change	0.99
Today Daily Change %	0.62
Today daily open	159.08

Trends
Daily SMA20	159.86
Daily SMA50	158.64
Daily SMA100	158.97
Daily SMA200	156.69

Levels
Previous Daily High	159.2
Previous Daily Low	158.08
Previous Weekly High	161.72
Previous Weekly Low	159.7
Previous Monthly High	161.87
Previous Monthly Low	155.07
Daily Fibonacci 38.2%	158.77
Daily Fibonacci 61.8%	158.51
Daily Pivot Point S1	158.38
Daily Pivot Point S2	157.67
Daily Pivot Point S3	157.26
Daily Pivot Point R1	159.49
Daily Pivot Point R2	159.9
Daily Pivot Point R3	160.61

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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