EUR/JPY Price Analysis: Recovery remains focused on 147.00

EUR/JPY comes under pressure and breaks below 145.00.
The next hurdle of note still emerges around 147.00 near term.

Pablo Piovano FXStreet

EUR/JPY fades the optimism seen at the beginning of the week and puts 145.00 to the test on turnaround Tuesday.

So far, the corrective rebound looks well in place and the cross should face initial resistance at the so far November high at 147.11 (November 9). Above the latter, the door could open to a more meaningful move to the 2022 peak at 148.40 (October 21).

In the longer run, while above the key 200-day SMA at 138.54, the positive outlook is expected to remain unchanged.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	144.94
Today Daily Change	82
Today Daily Change %	-0.41
Today daily open	145.53

Trends
Daily SMA20	145.68
Daily SMA50	144.08
Daily SMA100	141.3
Daily SMA200	138.52

Levels
Previous Daily High	145.65
Previous Daily Low	144.34
Previous Weekly High	145.55
Previous Weekly Low	143.35
Previous Monthly High	148.4
Previous Monthly Low	140.9
Daily Fibonacci 38.2%	145.14
Daily Fibonacci 61.8%	144.84
Daily Pivot Point S1	144.69
Daily Pivot Point S2	143.86
Daily Pivot Point S3	143.39
Daily Pivot Point R1	146
Daily Pivot Point R2	146.48
Daily Pivot Point R3	147.31

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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