EUR/JPY Price Analysis: Scope for extra upside near term

EUR/JPY advances further and retakes 136.00 and beyond.
Extra gains could see the 138.30 zone revisited in the short term.

Pablo Piovano FXStreet

EUR/JPY posts gains for the third consecutive session and manages to reclaim the area above 136.00 on Tuesday.

If the recovery picks extra pace, then the cross could see the downside mitigated on a close above the May peak at 138.31 (May 9). Surpassing the latter should put a potential visit to the 2022 high at 140.00 (April 21) back on the radar.

In the meantime, while above the 200-day SMA at 131.08, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	136.01
Today Daily Change	162
Today Daily Change %	0.85
Today daily open	134.86

Trends
Daily SMA20	136.88
Daily SMA50	134.77
Daily SMA100	132.38
Daily SMA200	131.08

Levels
Previous Daily High	135.05
Previous Daily Low	133.75
Previous Weekly High	138.32
Previous Weekly Low	132.66
Previous Monthly High	140
Previous Monthly Low	134.3
Daily Fibonacci 38.2%	134.55
Daily Fibonacci 61.8%	134.25
Daily Pivot Point S1	134.05
Daily Pivot Point S2	133.25
Daily Pivot Point S3	132.75
Daily Pivot Point R1	135.36
Daily Pivot Point R2	135.86
Daily Pivot Point R3	136.66

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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