EUR/JPY Price Analysis: Still scope for further rebound

EUR/JPY resumes the upside following Tuesday’s downtick.
Next on the upside comes the 200-day SMA near 130.50.

Pablo Piovano FXStreet

EUR/JPY trades in the upper end of the weekly range further north of the key 129.00 hurdle midweek.

In light of the recent price action, further recovery in the cross could be in the pipeline in the short term. Against this, there is an interim hurdle at the 100-day SMA at 129.88, just ahead of 130.08 (high January 20). The surpass of the latter should put a move to the 200-day SMA, today at 130.45, back on the radar.

While below the 200-day SMA, the outlook for the cross is expected to remain negative.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	129.45
Today Daily Change	42
Today Daily Change %	0.16
Today daily open	129.24

Trends
Daily SMA20	129.88
Daily SMA50	129.3
Daily SMA100	129.91
Daily SMA200	130.51

Levels
Previous Daily High	129.54
Previous Daily Low	128.87
Previous Weekly High	129.25
Previous Weekly Low	128.25
Previous Monthly High	131.6
Previous Monthly Low	128.25
Daily Fibonacci 38.2%	129.12
Daily Fibonacci 61.8%	129.28
Daily Pivot Point S1	128.9
Daily Pivot Point S2	128.55
Daily Pivot Point S3	128.23
Daily Pivot Point R1	129.56
Daily Pivot Point R2	129.88
Daily Pivot Point R3	130.23

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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