EUR/JPY Price Analysis: Some consolidation likely ahead of extra gains

EUR/JPY gives away part of Friday’s move to YTD highs.
Extra gains should retarget the December 2022 peak near 146.70.

Pablo Piovano FXStreet

EUR/JPY faces some downside pressure following Friday’s yearly highs in the 143.65/70 band.

While the cross looks somewhat side-lined for the time being, a convincing breakout of the 2023 high at 143.67 (February 17) could trigger a move higher to, initially, the December 2022 top at 146.72 (December 15).

In the meantime, while above the 200-day SMA, today at 141.25, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	143.09
Today Daily Change	63
Today Daily Change %	-0.29
Today daily open	143.51

Trends
Daily SMA20	141.73
Daily SMA50	141.5
Daily SMA100	143.08
Daily SMA200	141.25

Levels
Previous Daily High	143.67
Previous Daily Low	142.85
Previous Weekly High	143.67
Previous Weekly Low	140.19
Previous Monthly High	142.86
Previous Monthly Low	137.39
Daily Fibonacci 38.2%	143.36
Daily Fibonacci 61.8%	143.17
Daily Pivot Point S1	143.02
Daily Pivot Point S2	142.53
Daily Pivot Point S3	142.2
Daily Pivot Point R1	143.84
Daily Pivot Point R2	144.16
Daily Pivot Point R3	144.66

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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