EUR/JPY Price Analysis: Rising bets for extra upside near term

EUR/JPY resumes the upside following Thursday’s pullback.
Extra gains target the 200-day SMA in the short term.

Pablo Piovano FXStreet

EUR/JPY fades Thursday’s downtick and resumes the weekly recovery just above 129.00 the figure on Friday.

In case the rebound picks up extra pace, then the next barrier emerges at the temporary 55-day SMA 129.80 before the more relevant 200-day SMA, today at 130.04. If cleared, then the cross should re-focus on the weekly high at 131.90 (February 16).

In the meantime, while below the 200-day SMA, the outlook for the cross is expected to remain negative.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	128.8
Today Daily Change	153
Today Daily Change %	1.05
Today daily open	127.46

Trends
Daily SMA20	129.01
Daily SMA50	129.82
Daily SMA100	129.78
Daily SMA200	130.11

Levels
Previous Daily High	128.88
Previous Daily Low	127.42
Previous Weekly High	129.78
Previous Weekly Low	125.07
Previous Monthly High	133.15
Previous Monthly Low	127.92
Daily Fibonacci 38.2%	127.98
Daily Fibonacci 61.8%	128.32
Daily Pivot Point S1	126.96
Daily Pivot Point S2	126.46
Daily Pivot Point S3	125.5
Daily Pivot Point R1	128.42
Daily Pivot Point R2	129.38
Daily Pivot Point R3	129.88

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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