EUR/JPY Technical Analysis: Upside keeps targeting the 121.50 area

EUR/JPY extends the upside momentum to the upper-120.00s.
Immediately above emerges the 121.50 area of resistance.

Pablo Piovano FXStreet

EUR/JPY is prolonging the rally for yet another session and is trading at shouting distance from the key 121.00 barrier.

Further upside now targets the October peaks in the mid-121.00s ahead of the critical 200-day SMA in the vicinity of 121.60.

In case sellers return to the market, interim support is located around 120.30, where sits the 21-day SMA.

EUR/JPY

Overview
Today last price	120.76
Today Daily Change	28
Today Daily Change %	0.15
Today daily open	120.58

Trends
Daily SMA20	120.29
Daily SMA50	119.7
Daily SMA100	119.34
Daily SMA200	121.62

Levels
Previous Daily High	120.77
Previous Daily Low	120.4
Previous Weekly High	120.77
Previous Weekly Low	119.68
Previous Monthly High	121.31
Previous Monthly Low	119.24
Daily Fibonacci 38.2%	120.63
Daily Fibonacci 61.8%	120.54
Daily Pivot Point S1	120.4
Daily Pivot Point S2	120.22
Daily Pivot Point S3	120.03
Daily Pivot Point R1	120.77
Daily Pivot Point R2	120.95
Daily Pivot Point R3	121.14

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.

EUR/USD bounces off lows, back to 1.1860

EUR/USD now manages to regain some balance, retesting the 1.1860-1.1870 band after bottoming out near 1.1830 following the US NFP data on Wednesday. The pair, in the meantime, remains on the defensive amid fresh upside traction surrounding the US Dollar.

GBP/USD rebounds to 1.3660, USD loses momentum

GBP/USD trades with decent gains in the 1.3660 region, regaining composure following the post-NFP knee-jerk toward the 1.3600 zone on Wednesday. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold stays bid, still below $5,100

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of humble gains in the US Dollar and firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.