EUR/JPY Price Analysis: Still scope for further upside

EUR/JPY regains the upside and the upper-143.00s.
The breakout of 2022 highs should allow for extra gains.

Pablo Piovano FXStreet

EUR/JPY fades Tuesday’s retracement and advances further north of the 143.00 mark midweek.

The bullish bias in the cross remains well in place for the time being. That said, the surpass of the YTD top at 144.27 (June 28) is predicted to pave the way to, initially, the round level at 145.00 ahead of the 2015 high at 145.32 (January 2). Further up is the 2014 top at 149.78 (December 8).

In the meantime, while above the 3-month support line around 138.50, the short-term outlook for the cross should remain bullish. This area appears reinforced by the proximity of the 55-day SMA.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	143.69
Today Daily Change	131
Today Daily Change %	0.37
Today daily open	143.16

Trends
Daily SMA20	141.63
Daily SMA50	138.59
Daily SMA100	135.33
Daily SMA200	132.68

Levels
Previous Daily High	144.28
Previous Daily Low	142.87
Previous Weekly High	144.24
Previous Weekly Low	141.39
Previous Monthly High	138.32
Previous Monthly Low	132.66
Daily Fibonacci 38.2%	143.41
Daily Fibonacci 61.8%	143.74
Daily Pivot Point S1	142.6
Daily Pivot Point S2	142.03
Daily Pivot Point S3	141.19
Daily Pivot Point R1	144
Daily Pivot Point R2	144.84
Daily Pivot Point R3	145.41

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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