EUR/JPY Price Analysis: Upside looks firm and now targets 127.50

EUR/JPY cliched fresh +2-year peaks around 125.40 earlier in the session.
The March 2019 high near 127.50 is the next target of significance.

Pablo Piovano FXStreet

EUR/JPY’s rebound clinched its fourth consecutive session with gains, managing well to clear the 125.00 mark and advance to the 125.40 region, levels last seen in May 2019.

Extra upside momentum remains well on the cards and sustained by the generalized improvement in the risk complex. Against this, the next are of interest for the cross is the mid-127.00s, where sits the March 2019 high.

As long as EURJPY trades above the 200-day SMA at 120.05, the bullish outlook is expected to remain unchanged.

EUR/JPY weekly chart

EUR/JPY

Overview
Today last price	125.34
Today Daily Change	78
Today Daily Change %	0.46
Today daily open	124.77

Trends
Daily SMA20	123.01
Daily SMA50	121.76
Daily SMA100	119.59
Daily SMA200	120.07

Levels
Previous Daily High	125
Previous Daily Low	124.27
Previous Weekly High	125.21
Previous Weekly Low	123.02
Previous Monthly High	125.21
Previous Monthly Low	120.26
Daily Fibonacci 38.2%	124.72
Daily Fibonacci 61.8%	124.55
Daily Pivot Point S1	124.36
Daily Pivot Point S2	123.95
Daily Pivot Point S3	123.63
Daily Pivot Point R1	125.09
Daily Pivot Point R2	125.41
Daily Pivot Point R3	125.83

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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