EUR/JPY Price Analysis: Further rally would lead to a test of the 55-day moving average

  • EUR/JPY rises again after Thursday’s pullback.
  • The next target on the upside is the August high at 138.40.

EUR/JPY continues the weekly rally and is already flirting with the 138.00 zone on Friday.

If the cross breaks above the August high at 138.39 (Aug 10), gains should accelerate further and revisit the 55-day simple moving average time barrier today at 139.44.

As long as it is above the 200-day moving average at 134.05, the outlook for the pair should remain constructive.

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today 137.78
Today’s Daily Change 0.69
Today’s Daily Change % 0.50
Today’s Daily Opening 137.09
Trends
20 Daily SMA 137.13
50 Daily SMA 139.28
100 Daily SMA 138.16
200 Daily SMA 134.05
levels
Previous Daily High 137.66
Previous Daily Minimum 136.56
Previous Maximum Weekly 138.4
Previous Weekly Minimum 136.3
Monthly Prior Maximum 142.43
Previous Monthly Minimum 135.55
Daily Fibonacci 38.2% 136.98
Daily Fibonacci 61.8% 137.24
Daily Pivot Point S1 136.54
Daily Pivot Point S2 136
Daily Pivot Point S3 135.45
Daily Pivot Point R1 137.64
Daily Pivot Point R2 138.2
Daily Pivot Point R3 138.74

Source: Fx Street

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