EUR/JPY Price Analysis: Strong upside could retest 2021 highs

EUR/JPY regains the 132.00 mark and above on Friday.
The next target of relevance comes at the YTD peaks past 134.00.

Pablo Piovano FXStreet

EUR/JPY’s march north remains unabated and already surpassed the key barrier at 132.00 the figure on Friday.

The abrupt move higher in the cross left behind minor resistance levels at Fibo retracements and now faces the next hurdle at the Fibo level at 132.79. Further up from here there are no obstacles of relevance until the 2021 high at 134.12 recorded on June 1.

In the broader scenario, while above the 200-day SMA at 129.88, the outlook for EUR/JPY is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	132.68
Today Daily Change	99
Today Daily Change %	0.62
Today daily open	131.86

Trends
Daily SMA20	129.58
Daily SMA50	129.53
Daily SMA100	130.48
Daily SMA200	129.9

Levels
Previous Daily High	131.86
Previous Daily Low	131.27
Previous Weekly High	129.92
Previous Weekly Low	128.34
Previous Monthly High	130.74
Previous Monthly Low	127.93
Daily Fibonacci 38.2%	131.63
Daily Fibonacci 61.8%	131.49
Daily Pivot Point S1	131.46
Daily Pivot Point S2	131.07
Daily Pivot Point S3	130.87
Daily Pivot Point R1	132.06
Daily Pivot Point R2	132.26
Daily Pivot Point R3	132.65

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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