EUR/JPY Price Analysis: Further upside in store near term

EUR/JPY gathers extra steam and pokes with the 159.00 hurdle.
Next on the upside comes the key round level at 160.00.

Pablo Piovano FXStreet

EUR/JPY extends the recovery for yet another session and manages to briefly pierce the 159.00 ceiling on Tuesday.

If the move higher picks up extra pace, the cross should challenge recent 2023 highs near 159.50 (August 22) ahead of the key round level at 160.00. The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 147.77.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.93
Today Daily Change	78
Today Daily Change %	0.25
Today daily open	158.53

Trends
Daily SMA20	157.91
Daily SMA50	156.87
Daily SMA100	152.99
Daily SMA200	147.74

Levels
Previous Daily High	158.57
Previous Daily Low	158.07
Previous Weekly High	159.49
Previous Weekly Low	156.87
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	158.38
Daily Fibonacci 61.8%	158.26
Daily Pivot Point S1	158.21
Daily Pivot Point S2	157.89
Daily Pivot Point S3	157.71
Daily Pivot Point R1	158.71
Daily Pivot Point R2	158.89
Daily Pivot Point R3	159.21

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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