EURJPY Price Analysis: Outlook remains positive above 141.00

EURJPY fades part of Wednesday’s uptick and drops from 145.00.
The 3-month support line near 141.00 holds the downside.

Pablo Piovano FXStreet

EURJPY comes under pressure soon after surpassing the key 145.00 barrier on Thursday.

If the corrective bounce gathers extra steam, then the cross should face initial resistance at the so far November high at 147.11 (November 9). The surpass of this level could open the door to a more meaningful move to the 2022 peak at 148.40 (October 21).

In the meantime, further gains look in store in the near term as long as the cross navigates above the 3-month support line near 141.20. This area of contention is also propped up by the October lows in the 141.00 region.

In the longer run, while above the key 200-day SMA at 138.33, the constructive outlook is expected to remain unchanged.

EURJPY daily chart

EUR/JPY

Overview
Today last price	144.74
Today Daily Change	62
Today Daily Change %	-0.14
Today daily open	144.94

Trends
Daily SMA20	145.89
Daily SMA50	144
Daily SMA100	141.19
Daily SMA200	138.31

Levels
Previous Daily High	145.5
Previous Daily Low	143.57
Previous Weekly High	147.11
Previous Weekly Low	142.56
Previous Monthly High	148.4
Previous Monthly Low	140.9
Daily Fibonacci 38.2%	144.77
Daily Fibonacci 61.8%	144.31
Daily Pivot Point S1	143.84
Daily Pivot Point S2	142.74
Daily Pivot Point S3	141.91
Daily Pivot Point R1	145.78
Daily Pivot Point R2	146.61
Daily Pivot Point R3	147.71

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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