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EUR/JPY Price Analysis: Immediately to the upside comes 136.70

  • EUR/JPY adds to Thursday’s uptick and retests 135.80.
  • Extra recovery should target the weekly high at 136.70.

EUR/JPY picks up further upside traction and revisits the 135.80 region at the end of the week.

The continuation of the ongoing bounce should initially target the weekly high at 136.69 (May 17). Further gains from here are expected to put the May high at 138.31 (May 9) back on the radar ahead of the 2022 peak at 140.00 (April 21).

In the meantime, while above the 200-day SMA at 131.16, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price135.62
Today Daily Change106
Today Daily Change %0.24
Today daily open135.29
 
Trends
Daily SMA20136.34
Daily SMA50135.26
Daily SMA100132.54
Daily SMA200131.17
 
Levels
Previous Daily High135.46
Previous Daily Low133.93
Previous Weekly High138.32
Previous Weekly Low132.66
Previous Monthly High140
Previous Monthly Low134.3
Daily Fibonacci 38.2%134.88
Daily Fibonacci 61.8%134.51
Daily Pivot Point S1134.32
Daily Pivot Point S2133.36
Daily Pivot Point S3132.79
Daily Pivot Point R1135.86
Daily Pivot Point R2136.43
Daily Pivot Point R3137.39

Author

Pablo Piovano

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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