EUR/JPY Price Analysis: Risks remain tilted to the upside

EUR/JPY rebounds after two consecutive daily retracements.
Next on the upside comes the 2022 peak past 144.00.

Pablo Piovano FXStreet

EUR/JPY regains the 142.00 mark and beyond and at the same time leaves behind two straight sessions with losses on Friday.

The bullish bias in the cross remains well and sound and the continuation of the recovery could revisit the 2022 high at 144.25 (June 8) sooner rather than later.

The surpass of the latter could pave the way for a move to the 2015 high at 145.32 (January 2) prior to the 2014 high at 149.78 (December 8).

In the meantime, while above the 3-month support line around 138.15, the short-term outlook for the cross should stay bullish. This area appears reinforced by the proximity of the 55-day SMA.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	142.4
Today Daily Change	118
Today Daily Change %	0.25
Today daily open	142.05

Trends
Daily SMA20	140.76
Daily SMA50	138.26
Daily SMA100	134.99
Daily SMA200	132.46

Levels
Previous Daily High	144.03
Previous Daily Low	141.4
Previous Weekly High	141.97
Previous Weekly Low	137.93
Previous Monthly High	138.32
Previous Monthly Low	132.66
Daily Fibonacci 38.2%	142.41
Daily Fibonacci 61.8%	143.03
Daily Pivot Point S1	140.96
Daily Pivot Point S2	139.87
Daily Pivot Point S3	138.33
Daily Pivot Point R1	143.58
Daily Pivot Point R2	145.12
Daily Pivot Point R3	146.21

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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