EUR/JPY Price Analysis: Scope for a move to 133.00

EUR/JPY trades in the area of 2021 highs well above 132.00.
The next target of note now comes in at the 133.00 mark.

Pablo Piovano FXStreet

EUR/JPY reverses Thursday’s pullback and resumes the upside with the immediate target at YTD highs around 132.80 (May 13).

If the latter is cleared, then the buying impulse could push the cross to 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 130.50. This area is also reinforced by the 50-day SMA, today at 130.38.

In the broader picture, while above the 200-day SMA at 126.64 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	132.48
Today Daily Change	43
Today Daily Change %	0.17
Today daily open	132.26

Trends
Daily SMA20	131.24
Daily SMA50	130.35
Daily SMA100	128.67
Daily SMA200	126.65

Levels
Previous Daily High	132.74
Previous Daily Low	132.04
Previous Weekly High	132.29
Previous Weekly Low	130.98
Previous Monthly High	132.37
Previous Monthly Low	129.57
Daily Fibonacci 38.2%	132.3
Daily Fibonacci 61.8%	132.47
Daily Pivot Point S1	131.96
Daily Pivot Point S2	131.65
Daily Pivot Point S3	131.26
Daily Pivot Point R1	132.65
Daily Pivot Point R2	133.04
Daily Pivot Point R3	133.35

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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