EUR/JPY Price Analysis: Room for extra gains above 131.00

EUR/JPY reverses Monday’s blues and records new YTD highs.
Extra gains remain on the table once 131.00 is cleared.

Pablo Piovano FXStreet

EUR/JPY manages to reverse the pessimism seen at the beginning of the week and clinched fresh yearly highs in levels just shy of the 131.00 yardstick earlier in the European session on turnaround Tuesday

Further upside now appears likely if the break above the recent consolidative theme is confirmed in the short-term, with the next target now emerging at the 2018 high at 131.98 (July 17).

While above the 5-month support line near 128.80, extra gains should remain on the table.

In the meantime, while above the 200-day SMA at 125.92 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.62
Today Daily Change	92
Today Daily Change %	0.30
Today daily open	130.23

Trends
Daily SMA20	129.86
Daily SMA50	129.17
Daily SMA100	127.75
Daily SMA200	125.96

Levels
Previous Daily High	130.37
Previous Daily Low	129.7
Previous Weekly High	130.61
Previous Weekly Low	129.8
Previous Monthly High	130.67
Previous Monthly Low	128.18
Daily Fibonacci 38.2%	129.96
Daily Fibonacci 61.8%	130.12
Daily Pivot Point S1	129.83
Daily Pivot Point S2	129.43
Daily Pivot Point S3	129.16
Daily Pivot Point R1	130.5
Daily Pivot Point R2	130.77
Daily Pivot Point R3	131.17

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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