EUR/JPY Price Analysis: Still room for further range bound trade

EUR/JPY reverses Monday’s downtick and retests the vicinity of 158.00.
Immediately to the upside comes the monthly peak at 158.65.

Pablo Piovano FXStreet

EUR/JPY reverses the negative start of the week and advances to the area near the 158.00 hurdle on Tuesday.

In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a visit to the so far monthly high of 158.65 (September 13) prior to the 2023 top at 159.76 (August 30), which precedes the key round level at 160.00.

The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 149.18.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	157.86
Today Daily Change	54
Today Daily Change %	0.09
Today daily open	157.72

Trends
Daily SMA20	158
Daily SMA50	157.54
Daily SMA100	155.01
Daily SMA200	149.13

Levels
Previous Daily High	158.18
Previous Daily Low	157.49
Previous Weekly High	158.45
Previous Weekly Low	157.04
Previous Monthly High	159.76
Previous Monthly Low	155.53
Daily Fibonacci 38.2%	157.75
Daily Fibonacci 61.8%	157.91
Daily Pivot Point S1	157.41
Daily Pivot Point S2	157.1
Daily Pivot Point S3	156.72
Daily Pivot Point R1	158.1
Daily Pivot Point R2	158.49
Daily Pivot Point R3	158.8

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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