EUR/JPY Price Analysis: Upside momentum has further legs to go

EUR/JPY advances to new 2023 highs near 162.00.
Further upside could lift the cross to the 2008 high near 170.00.

Pablo Piovano FXStreet

EUR/JPY resumes the upside and prints new yearly highs in the vicinity of the 162.00 yardstick on Friday.

Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.85 (November 10) is expected to face the next significant resistance level not before the 2008 peak of 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.13.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	161.76
Today Daily Change	55
Today Daily Change %	0.21
Today daily open	161.42

Trends
Daily SMA20	159.29
Daily SMA50	158.3
Daily SMA100	157.67
Daily SMA200	152.07

Levels
Previous Daily High	161.8
Previous Daily Low	161.36
Previous Weekly High	160.85
Previous Weekly Low	157.7
Previous Monthly High	160.85
Previous Monthly Low	154.39
Daily Fibonacci 38.2%	161.53
Daily Fibonacci 61.8%	161.63
Daily Pivot Point S1	161.26
Daily Pivot Point S2	161.1
Daily Pivot Point S3	160.83
Daily Pivot Point R1	161.69
Daily Pivot Point R2	161.96
Daily Pivot Point R3	162.12

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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