EUR/JPY Price Analysis: Upside still capped by 130.20

EUR/JPY trades without clear direction around 130.00.
The 130.20 region still caps occasional bullish attempts.

Pablo Piovano FXStreet

EUR/JPY manages to reclaim the 130.00 neighbourhood following the earlier drop to the 129.70/65 band on Monday.

Further rangebound appears in the pipeline, at least in the very near term. That said, the cross needs to surpass recent peaks around 130.20 to allow for extra recovery. Further north comes in the weekly highs in the 131.00 zone (July 13). The proximity of the 100-day SMA (131.18) reinforces this hurdle. In addition, beyond this area the downside pressure is expected to subside.

In the meantime, while above the 200-day SMA at 128.47, the outlook for EUR/JPY is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.05
Today Daily Change	50
Today Daily Change %	-0.02
Today daily open	130.08

Trends
Daily SMA20	130.62
Daily SMA50	132.01
Daily SMA100	131.22
Daily SMA200	128.51

Levels
Previous Daily High	130.18
Previous Daily Low	129.57
Previous Weekly High	130.3
Previous Weekly Low	128.6
Previous Monthly High	134.13
Previous Monthly Low	130.04
Daily Fibonacci 38.2%	129.95
Daily Fibonacci 61.8%	129.81
Daily Pivot Point S1	129.7
Daily Pivot Point S2	129.33
Daily Pivot Point S3	129.09
Daily Pivot Point R1	130.32
Daily Pivot Point R2	130.56
Daily Pivot Point R3	130.93

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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