EUR/JPY Price Analysis: The breakout of the consolidation exposes the 2023 top

EUR/JPY extends the weekly uptrend beyond 158.00.
Next on the upside comes the YTD high.

Pablo Piovano FXStreet

EUR/JPY clinches its third session in a row of gains and manages to reclaim the 158.00 barrier and beyond on Tuesday.

In the meantime, the cross continues to face some consolidative range. Against that, a minor hurdle emerges at the so far monthly high of 158.65 (September 13) ahead of the 2023 top at 159.76 (August 30), which precedes the key round level at 160.00. The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 148.84.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.08
Today Daily Change	58
Today Daily Change %	0.16
Today daily open	157.82

Trends
Daily SMA20	158.03
Daily SMA50	157.26
Daily SMA100	154.56
Daily SMA200	148.81

Levels
Previous Daily High	157.94
Previous Daily Low	157.35
Previous Weekly High	158.66
Previous Weekly Low	156.58
Previous Monthly High	159.76
Previous Monthly Low	155.53
Daily Fibonacci 38.2%	157.71
Daily Fibonacci 61.8%	157.57
Daily Pivot Point S1	157.46
Daily Pivot Point S2	157.11
Daily Pivot Point S3	156.87
Daily Pivot Point R1	158.05
Daily Pivot Point R2	158.29
Daily Pivot Point R3	158.64

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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