- The EUR/JPY continues to give wings to the ongoing rebound and returns to 138.00.
- If it continues to rise, the pair could retest the 55-day SMA near 138.90.
The EUR/JPY extends recent gains and recovers the area above the 138.00 area earlier in the week.
The continuation of the uptrend has an initial target of the August high at 138.39 (Aug 10) before hitting the temporary 55-day SMA today 138.89. Breaking above this level should shift attention to the weekly high at 142.32 (July 21).
As long as it is above the 200-day SMA at 134.27, the outlook for the pair should remain constructive.
EUR/JPY daily chart
|Last Price Today||138.04|
|Today’s Daily Change||0.92|
|Today’s Daily Change %||0.67|
|Today’s Daily Opening||137.12|
|20 Daily SMA||136.68|
|50 Daily SMA||138.83|
|100 Daily SMA||138.27|
|200 Daily SMA||134.26|
|Previous Daily High||137.97|
|Previous Daily Minimum||136.09|
|Previous Maximum Weekly||137.97|
|Previous Weekly Minimum||135.52|
|Monthly Prior Maximum||142.43|
|Previous Monthly Minimum||135.55|
|Daily Fibonacci 38.2%||137.25|
|Daily Fibonacci 61.8%||136.81|
|Daily Pivot Point S1||136.15|
|Daily Pivot Point S2||135.18|
|Daily Pivot Point S3||134.27|
|Daily Pivot Point R1||138.03|
|Daily Pivot Point R2||138.94|
|Daily Pivot Point R3||139.91|
Source: Fx Street
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