EUR/JPY Price Analysis: recovery targets the mid-127.00s

EUR/JPY extends the upside to the 126.30 area on Friday.
The 2021 highs in the 127.50 zone come up next.

Pablo Piovano FXStreet

EUR/JPY adds to Thursday’s gains and looks to consolidate the breakout of the 126.00 hurdle.

If the buying pressure morphs into a serious recovery, then the YTD highs around 127.50 should return to the radar in the near-term.

Looking at the broader picture, while above the 200-day SMA at 122.88 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	126.22
Today Daily Change	50
Today Daily Change %	0.22
Today daily open	125.94

Trends
Daily SMA20	126.34
Daily SMA50	125.71
Daily SMA100	124.78
Daily SMA200	122.97

Levels
Previous Daily High	125.97
Previous Daily Low	125.32
Previous Weekly High	127.11
Previous Weekly Low	125.41
Previous Monthly High	127.24
Previous Monthly Low	124.38
Daily Fibonacci 38.2%	125.72
Daily Fibonacci 61.8%	125.57
Daily Pivot Point S1	125.52
Daily Pivot Point S2	125.09
Daily Pivot Point S3	124.87
Daily Pivot Point R1	126.17
Daily Pivot Point R2	126.39
Daily Pivot Point R3	126.82

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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