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

EUR/JPY resumes the upside following Friday’s pullback.
Next on the upside comes in the YTD tops above 132.00.

Pablo Piovano FXStreet

EUR/JPY manages to reclaim ground lost following Friday’s moderate retracement.

Current price action suggests further upside remain well on the cards in the near-term, with the immediate target at the recent peaks near 132.40 recorded on April 28.

This view is bolstered by the immediate support line near 130.00, area coincident with the 50-day SMA.

In the meantime, while above the 200-day SMA at 126.30 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	131.73
Today Daily Change	74
Today Daily Change %	0.23
Today daily open	131.43

Trends
Daily SMA20	130.56
Daily SMA50	129.79
Daily SMA100	128.17
Daily SMA200	126.32

Levels
Previous Daily High	132.19
Previous Daily Low	131.38
Previous Weekly High	132.37
Previous Weekly Low	130.21
Previous Monthly High	132.37
Previous Monthly Low	129.57
Daily Fibonacci 38.2%	131.69
Daily Fibonacci 61.8%	131.88
Daily Pivot Point S1	131.14
Daily Pivot Point S2	130.85
Daily Pivot Point S3	130.33
Daily Pivot Point R1	131.95
Daily Pivot Point R2	132.48
Daily Pivot Point R3	132.76

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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