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EUR/JPY Price Analysis: Further rallies likely in the short term

  • EUR/JPY extends recovery to around 138.00 on Tuesday.
  • Further up is the 55-day average around 139.50.

EUR/JPY continues to rise and is already above the 138.00 zone on Tuesday for the sixth consecutive session.

Considering the ongoing price action, it seems likely that the cross will continue to rise for the time being. That said, the next temporary target lines up at the 55-day simple moving average today at 139.57. If the cross breaks above the latter, it could open the door for a likely visit to July’s high at 142.32 (July 21).

As long as it is above the 200-day simple moving average at 133.82, the outlook for the cross is expected to remain constructive.

EUR/JPY day chart


Last Price Today 138.02
Today’s Daily Change 0.60
Today’s Daily Change % 0.44
Today’s Daily Opening 137.42
20 Daily SMA 138.2
50 Daily SMA 139.89
100 Daily SMA 137.99
200 Daily SMA 133.82
Previous Daily High 137.93
Previous Daily Minimum 137.07
Previous Maximum Weekly 137.76
Previous Weekly Minimum 133.4
Monthly Prior Maximum 142.43
Previous Monthly Minimum 135.55
Daily Fibonacci 38.2% 137.4
Daily Fibonacci 61.8% 137.6
Daily Pivot Point S1 137.01
Daily Pivot Point S2 136.61
Daily Pivot Point S3 136.16
Daily Pivot Point R1 137.87
Daily Pivot Point R2 138.33
Daily Pivot Point R3 138.73

Source: Fx Street

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