EUR/JPY Price Analysis: Still room for a test of 2021 highs

EUR/JPY manages to reverse Thursday’s strong pullback.
The resumption of the upside could well see the YTD high retested.

Pablo Piovano FXStreet

EUR/JPY’s needle-like upside seems to have met some decent hurdle in the vicinity of 133.50 on Thursday, sparking quite a moderate corrective downside afterwards.

The cross corrected lower following recent overbought levels. However, the current positive outlook should allow for the continuation of the uptrend in the not-so-distant future, with minor hurdles at 133.68 (June 15) and 133.76 (June 10) ahead of the more relevant YTD high at 134.12 recorded on June 1.

In the broader scenario, while above the 200-day SMA at 130.04, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	132.52
Today Daily Change	49
Today Daily Change %	0.06
Today daily open	132.44

Trends
Daily SMA20	130.61
Daily SMA50	129.85
Daily SMA100	130.43
Daily SMA200	130.05

Levels
Previous Daily High	133.37
Previous Daily Low	132.26
Previous Weekly High	132.78
Previous Weekly Low	129.71
Previous Monthly High	130.74
Previous Monthly Low	127.93
Daily Fibonacci 38.2%	132.69
Daily Fibonacci 61.8%	132.95
Daily Pivot Point S1	132.01
Daily Pivot Point S2	131.58
Daily Pivot Point S3	130.9
Daily Pivot Point R1	133.12
Daily Pivot Point R2	133.8
Daily Pivot Point R3	134.23

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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