EUR/JPY Price Analysis: Room for some consolidation near term

EUR/JPY’s daily advance falters around 138.00 on Friday.
Some range bound trading could emerge in the short term.

Pablo Piovano FXStreet

EUR/JPY trades on the defensive around 137.00 following two daily gains in a row on Friday.

The cross could move into a consolidative phase in the very near term ahead of the potential continuation of the uptrend. Against that, the immediate hurdle still emerges at the 2022 high around 140.00 (April 21). If cleared, the cross should then focus on the June 2015 high at 141.05. Beyond this level, there are no hurdles of note until the 2014 top at 149.78 (December 2014).

In the meantime, while above the 200-day SMA at 130.69, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	137.04
Today Daily Change	106
Today Daily Change %	-0.27
Today daily open	137.41

Trends
Daily SMA20	136.47
Daily SMA50	132.92
Daily SMA100	131.47
Daily SMA200	130.69

Levels
Previous Daily High	138
Previous Daily Low	135.44
Previous Weekly High	140
Previous Weekly Low	136.45
Previous Monthly High	137.54
Previous Monthly Low	124.39
Daily Fibonacci 38.2%	137.02
Daily Fibonacci 61.8%	136.42
Daily Pivot Point S1	135.89
Daily Pivot Point S2	134.38
Daily Pivot Point S3	133.32
Daily Pivot Point R1	138.46
Daily Pivot Point R2	139.52
Daily Pivot Point R3	141.03

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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