EUR/JPY Technical Analysis: Rising odds for extra gains near term

EUR/JPY has resumed the upside so far this week, managing to leave behind Friday’s retracement and advance to 4-week tops beyond 118.00 the figure.
The continuation of the up move now targets the key 55-day SMA at 119.65 ahead of the short-term resistance line at 119.98.
Above this area the selling pressure should mitigate and allow for a squeeze higher to 121.38 (high July 31).

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	118.48
Today Daily Change	39
Today Daily Change %	0.01
Today daily open	118.47

Trends
Daily SMA20	117.71
Daily SMA50	119.45
Daily SMA100	121.14
Daily SMA200	123.41

Levels
Previous Daily High	118.52
Previous Daily Low	117.74
Previous Weekly High	118.62
Previous Weekly Low	115.86
Previous Monthly High	120.72
Previous Monthly Low	116.57
Daily Fibonacci 38.2%	118.22
Daily Fibonacci 61.8%	118.04
Daily Pivot Point S1	117.96
Daily Pivot Point S2	117.46
Daily Pivot Point S3	117.17
Daily Pivot Point R1	118.75
Daily Pivot Point R2	119.03
Daily Pivot Point R3	119.54

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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