EUR/JPY Price Analysis: Recovery initially targets 138.40

EUR/JPY trades with decent gains after two daily drops in a row.
If the rebound gathers pace, then the cross could revisit 138.40.

Pablo Piovano FXStreet

EUR/JPY leaves behind two consecutive daily pullbacks and advances beyond 136.00 the figure on Tuesday.

In case the recovery becomes more serious, then the cross should meet the next barrier at the 100-day SMA at 138.08 prior to the more relevant August peak at 138.39 (August 10).

While above the 200-day SMA, today at 133.94, the prospects for the pair should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	136.1
Today Daily Change	121
Today Daily Change %	0.45
Today daily open	135.49

Trends
Daily SMA20	137.71
Daily SMA50	139.63
Daily SMA100	138.12
Daily SMA200	133.95

Levels
Previous Daily High	137.08
Previous Daily Low	135.28
Previous Weekly High	138.4
Previous Weekly Low	136.3
Previous Monthly High	142.43
Previous Monthly Low	135.55
Daily Fibonacci 38.2%	135.97
Daily Fibonacci 61.8%	136.39
Daily Pivot Point S1	134.82
Daily Pivot Point S2	134.15
Daily Pivot Point S3	133.02
Daily Pivot Point R1	136.62
Daily Pivot Point R2	137.75
Daily Pivot Point R3	138.42

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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