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.

Pablo Piovano FXStreet

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 price	132.22
Today Daily Change	78
Today Daily Change %	0.20
Today daily open	131.96

Trends
Daily SMA20	131.04
Daily SMA50	130.22
Daily SMA100	128.55
Daily SMA200	126.58

Levels
Previous Daily High	132.47
Previous Daily Low	131.79
Previous Weekly High	132.29
Previous Weekly Low	130.98
Previous Monthly High	132.37
Previous Monthly Low	129.57
Daily Fibonacci 38.2%	132.05
Daily Fibonacci 61.8%	132.21
Daily Pivot Point S1	131.67
Daily Pivot Point S2	131.39
Daily Pivot Point S3	130.99
Daily Pivot Point R1	132.36
Daily Pivot Point R2	132.76
Daily Pivot Point R3	133.05

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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