EUR/JPY Price Analysis: Upside still targets the 122.00 level

EUR/JPY’s upside remains limited around the 122.00 zone.
If cleared, the next hurdle up emerges at 124.43 (YTD tops, June 5).

Pablo Piovano FXStreet

EUR/JPY is now attempting some consolidation above 121.00 the figure following Monday’s failure to advance further north of the interim resistance at the 122.00 yardstick.

If the buying interest picks up pace and manages to clear the 122.00 area, then the yearly tops in the 124.40/45 band should emerge on the horizon.

As long as the 200-day SMA at 119.67 holds the downside, the outlook on the cross is seen as constructive. This contention area is also reinforced by June’s lows in the 119.30 region.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	121.36
Today Daily Change	30
Today Daily Change %	0.12
Today daily open	121.21

Trends
Daily SMA20	120.74
Daily SMA50	119.2
Daily SMA100	118.88
Daily SMA200	119.72

Levels
Previous Daily High	121.72
Previous Daily Low	121.18
Previous Weekly High	121.48
Previous Weekly Low	120.05
Previous Monthly High	124.43
Previous Monthly Low	119.32
Daily Fibonacci 38.2%	121.39
Daily Fibonacci 61.8%	121.52
Daily Pivot Point S1	121.03
Daily Pivot Point S2	120.84
Daily Pivot Point S3	120.49
Daily Pivot Point R1	121.56
Daily Pivot Point R2	121.91
Daily Pivot Point R3	122.09

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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