EUR/JPY Price Analysis: Strong upside momentum targets 130.00 and above

EUR/JPY remains (very) firm and approaches the 130.00 mark.
Above 130.00 comes in the November 2018 high at 130.14.

Pablo Piovano FXStreet

EUR/JPY adds to the ongoing rally and trades at shouting distance from the psychological 130.00 hurdle.

A move above the 130.00 mark should put back on the radar the 130.14 level (November 7 2018) ahead of the summer 2018 high at 131.98 (July 17).

Reinforcing the idea of extra gains, EUR/JPY keeps trading above the immediate support line (off November 19 2020 low) near 126.65, where also coincides the 55-day SMA.

Looking at the broader picture, while above the 200-day SMA at 124.19 the outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	129.69
Today Daily Change	114
Today Daily Change %	0.68
Today daily open	128.81

Trends
Daily SMA20	127.21
Daily SMA50	126.67
Daily SMA100	125.46
Daily SMA200	124.24

Levels
Previous Daily High	128.82
Previous Daily Low	127.77
Previous Weekly High	128.46
Previous Weekly Low	127.1
Previous Monthly High	127.49
Previous Monthly Low	125.09
Daily Fibonacci 38.2%	128.42
Daily Fibonacci 61.8%	128.17
Daily Pivot Point S1	128.11
Daily Pivot Point S2	127.42
Daily Pivot Point S3	127.07
Daily Pivot Point R1	129.16
Daily Pivot Point R2	129.51
Daily Pivot Point R3	130.21

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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