EUR/JPY Price Analysis: The sky is the limit

EUR/JPY moves to multi-year highs near 137.50 on Monday.
Next of relevance on the upside comes the 2018 tops near 137.50.

Pablo Piovano FXStreet

EUR/JPY quickly reversed Friday’s modest pullback and resumed the strong upside bias at the beginning of the week.

The upside momentum in the cross appears unabated for the time being. However, the cross has entered into the overbought territory, indicative that a potential corrective move could be in the pipeline in the short-term horizon. Next on the upside, in the meantime, emerges the August 2015 peak at 138.99 followed by the round level at 140.00.

In the meantime, while above the 200-day SMA at 130.03, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	136.55
Today Daily Change	357
Today Daily Change %	1.89
Today daily open	134.02

Trends
Daily SMA20	129.67
Daily SMA50	129.99
Daily SMA100	129.74
Daily SMA200	130.04

Levels
Previous Daily High	134.75
Previous Daily Low	133.72
Previous Weekly High	134.75
Previous Weekly Low	131.38
Previous Monthly High	133.15
Previous Monthly Low	127.92
Daily Fibonacci 38.2%	134.12
Daily Fibonacci 61.8%	134.36
Daily Pivot Point S1	133.58
Daily Pivot Point S2	133.14
Daily Pivot Point S3	132.56
Daily Pivot Point R1	134.61
Daily Pivot Point R2	135.19
Daily Pivot Point R3	135.63

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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