EUR/JPY Price Analysis: Room for extra upside near term

EUR/JPY adds to Thursday’s gains and prints new highs.
Further upside could target the 149.80 region in the short term.

Pablo Piovano FXStreet

EUR/JPY extends the optimism seen in the second half of the week and advances to new cycle highs around 147.60 on Friday.

Considering the current price action in the cross, the door still looks open to extra upside. That said, the immediate target now emerges at the December 2014 high at 149.78 (December 8).

In the short term the upside momentum is expected to persist while above the October lows near 141.00.

In the longer run, while above the key 200-day SMA at 136.85, the constructive outlook for the cross should remain unchanged.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	147.55
Today Daily Change	107
Today Daily Change %	0.37
Today daily open	147

Trends
Daily SMA20	142.76
Daily SMA50	141.1
Daily SMA100	140.45
Daily SMA200	136.8

Levels
Previous Daily High	147.3
Previous Daily Low	146.24
Previous Weekly High	144.85
Previous Weekly Low	140.9
Previous Monthly High	145.64
Previous Monthly Low	137.38
Daily Fibonacci 38.2%	146.89
Daily Fibonacci 61.8%	146.64
Daily Pivot Point S1	146.39
Daily Pivot Point S2	145.78
Daily Pivot Point S3	145.33
Daily Pivot Point R1	147.45
Daily Pivot Point R2	147.91
Daily Pivot Point R3	148.52

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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