EUR/JPY Price Analysis: The 158.00 area is just around the corner

EUR/JPY adds to Monday’s gains and approaches 158.00.
Further north emerges the 2023 peak just past 158.00.

Pablo Piovano FXStreet

EUR/JPY gathers extra pace and trades closer to the key 158.00 region on Tuesday.

So far, the continuation of the upside momentum appears likely with the initial target still at the 2023 high at 158.04 (July 21). The breakout of this level exposes a move to the round level of 160.00.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.78.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	156.96
Today Daily Change	106
Today Daily Change %	0.10
Today daily open	156.8

Trends
Daily SMA20	155.87
Daily SMA50	154.64
Daily SMA100	150.73
Daily SMA200	146.76

Levels
Previous Daily High	156.85
Previous Daily Low	155.81
Previous Weekly High	157.5
Previous Weekly Low	155.11
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	156.45
Daily Fibonacci 61.8%	156.21
Daily Pivot Point S1	156.12
Daily Pivot Point S2	155.44
Daily Pivot Point S3	155.08
Daily Pivot Point R1	157.17
Daily Pivot Point R2	157.53
Daily Pivot Point R3	158.21

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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