EUR/JPY Price Analysis: Downside alleviated above 130.80

EUR/JPY extends the weekly recovery to the 129.60 region.
Interim up barrier comes at the 100-day SMA (129.88).

Pablo Piovano FXStreet

EUR/JPY adds to Wednesday’s advance further north of the 129.00 hurdle on Thursday.

In light of the recent price action, further recovery in the cross could be in the pipeline. Against this, there is a temporary barrier at the 100-day SMA at 129.88 prior to the more relevant 200-day SMA, today at 130.44. Further up comes the 3-month resistance line near 130.80, above which the cross could see its downside pressure mitigated.

While below the 200-day SMA, the outlook for the cross is expected to remain negative.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	129.45
Today Daily Change	41
Today Daily Change %	0.04
Today daily open	129.4

Trends
Daily SMA20	129.78
Daily SMA50	129.3
Daily SMA100	129.91
Daily SMA200	130.5

Levels
Previous Daily High	129.47
Previous Daily Low	129.04
Previous Weekly High	129.25
Previous Weekly Low	128.25
Previous Monthly High	131.6
Previous Monthly Low	128.25
Daily Fibonacci 38.2%	129.31
Daily Fibonacci 61.8%	129.21
Daily Pivot Point S1	129.14
Daily Pivot Point S2	128.88
Daily Pivot Point S3	128.71
Daily Pivot Point R1	129.57
Daily Pivot Point R2	129.74
Daily Pivot Point R3	130

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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