EUR/JPY Price Analysis: Scope for further range bound trade

EUR/JPY leaves behind Tuesday’s small downtick and retakes 143.00.
The breakout of the consolidation theme faces resistance near 145.60.

Pablo Piovano FXStreet

EUR/JPY advances markedly and regain the area beyond the 143.00 hurdle to print new multi-session peaks on Wednesday.

The cross so far surpasses the key 200-day SMA near 141.80, and a sustainable surpass of this region should open the door to further upside in the short-term horizon. Moving forward, the consolidation theme is expected to remain unchanged, while a more serious bounce should target the monthly highs around 145.50.

In the meantime, extra losses remain on the table while the cross trades below the 200-day SMA.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	143.23
Today Daily Change	148
Today Daily Change %	0.92
Today daily open	141.93

Trends
Daily SMA20	142.99
Daily SMA50	142.37
Daily SMA100	142.56
Daily SMA200	141.83

Levels
Previous Daily High	142.15
Previous Daily Low	141.05
Previous Weekly High	143.63
Previous Weekly Low	138.83
Previous Monthly High	145.47
Previous Monthly Low	139.55
Daily Fibonacci 38.2%	141.47
Daily Fibonacci 61.8%	141.73
Daily Pivot Point S1	141.27
Daily Pivot Point S2	140.6
Daily Pivot Point S3	140.16
Daily Pivot Point R1	142.37
Daily Pivot Point R2	142.82
Daily Pivot Point R3	143.48

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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