EUR/JPY Price Analysis: Scope for a move to 2022 high

EUR/JPY faces some selling pressure around 131.90.
Extra gains look on the cards with the target at the YTD peak.

Pablo Piovano FXStreet

EUR/JPY looks offered after hitting fresh monthly highs in the 131.90 region on Friday.

The cross gathered extra upside traction following the recent breakout of the 200-day SMA (129.98). The surpass of the 131.90 area could likely allow EUR/JPY to attempt an assault of the 2022 top at 133.15 (February 10).

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

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	131.39
Today Daily Change	55
Today Daily Change %	-0.08
Today daily open	131.5

Trends
Daily SMA20	128.75
Daily SMA50	129.72
Daily SMA100	129.66
Daily SMA200	130.02

Levels
Previous Daily High	131.91
Previous Daily Low	130.72
Previous Weekly High	129.04
Previous Weekly Low	124.39
Previous Monthly High	133.15
Previous Monthly Low	127.92
Daily Fibonacci 38.2%	131.46
Daily Fibonacci 61.8%	131.18
Daily Pivot Point S1	130.84
Daily Pivot Point S2	130.19
Daily Pivot Point S3	129.66
Daily Pivot Point R1	132.03
Daily Pivot Point R2	132.56
Daily Pivot Point R3	133.21

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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