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EUR/JPY Price Analysis: Room for extra upside

  • EUR/JPY trades closer to YTD peaks around 132.50.
  • The next target of note now comes in at the 133.00 mark.

EUR/JPY reverses two pullbacks in a row and returns to the 132.50 region, trading at shouting distance from YTD highs on Wednesday.

If the buying impulse gathers extra pace the cross could attempt a move to the 133.00 neighbourhood ahead of the September 2018 high at 133.13. Further gains remain likely while above the immediate support line (off the March lows) near 130.30. This area is also reinforced by the 50-day SMA.

In the broader picture, while above the 200-day SMA at 126.57 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price132.22
Today Daily Change78
Today Daily Change %0.20
Today daily open131.96
 
Trends
Daily SMA20131.04
Daily SMA50130.22
Daily SMA100128.55
Daily SMA200126.58
 
Levels
Previous Daily High132.47
Previous Daily Low131.79
Previous Weekly High132.29
Previous Weekly Low130.98
Previous Monthly High132.37
Previous Monthly Low129.57
Daily Fibonacci 38.2%132.05
Daily Fibonacci 61.8%132.21
Daily Pivot Point S1131.67
Daily Pivot Point S2131.39
Daily Pivot Point S3130.99
Daily Pivot Point R1132.36
Daily Pivot Point R2132.76
Daily Pivot Point R3133.05

Author

Pablo Piovano

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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