EUR/JPY Price Analysis: Target is now at the 119.00 area

EUR/JPY has briefly advanced beyond the118.00 barrier on Wednesday.
Immediately to the upside emerges the key barrier in the 119.00 area.

Pablo Piovano FXStreet

EUR/JPY is prolonging the upside momentum on the back of the renewed sentiment in the risk complex, managing to reclaim the 118.00, although running out of steam afterwards.

After breaking above the late-April/May tops near 117.80, the cross has now shifted the attention to April’s top in the 119.00 neighbourhood. This resistance is reinforced by the proximity of the 100-day and the 200-day SMAs at 118.92 and 119.25, respectively.

A move above the 200-day SMA should mitigate the downside pressure and allow for extra gains to March’s tops in the 121.00 region.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	117.79
Today Daily Change	53
Today Daily Change %	0.12
Today daily open	117.65

Trends
Daily SMA20	116.2
Daily SMA50	117.48
Daily SMA100	119
Daily SMA200	119.31

Levels
Previous Daily High	118.2
Previous Daily Low	117.03
Previous Weekly High	116.86
Previous Weekly Low	115.3
Previous Monthly High	119.04
Previous Monthly Low	115.45
Daily Fibonacci 38.2%	117.75
Daily Fibonacci 61.8%	117.48
Daily Pivot Point S1	117.05
Daily Pivot Point S2	116.46
Daily Pivot Point S3	115.88
Daily Pivot Point R1	118.22
Daily Pivot Point R2	118.8
Daily Pivot Point R3	119.39

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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