EUR/JPY Price Analysis: Next target now emerges at 160.00

EUR/JPY climbs to fresh highs well past 158.00 on Thursday.
Further upside could now see 160.00 revisited in the near term.

Pablo Piovano FXStreet

EUR/JPY extends the advance for the fifth consecutive session and finally surpasses the key 158.00 hurdle to print new peaks in levels last seen in September 2008 around 158.90.

So far, the continuation of the upside momentum appears likely with an immediate target emerging at he round level of 160.00 in the short-term horizon. The breakout 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 146.92.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.82
Today Daily Change	134
Today Daily Change %	0.68
Today daily open	157.75

Trends
Daily SMA20	156.18
Daily SMA50	154.95
Daily SMA100	151.02
Daily SMA200	146.88

Levels
Previous Daily High	157.9
Previous Daily Low	156.91
Previous Weekly High	157.5
Previous Weekly Low	155.11
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	157.52
Daily Fibonacci 61.8%	157.29
Daily Pivot Point S1	157.14
Daily Pivot Point S2	156.54
Daily Pivot Point S3	156.16
Daily Pivot Point R1	158.13
Daily Pivot Point R2	158.51
Daily Pivot Point R3	159.12

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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