EUR/JPY Price Analysis: Immediately to the upside appears 136.70

EUR/JPY extends the rally on Thursday and retests 135.80.
More rallies should target weekly high at 136.70.

EUR/JPY adds even more traction to the upside and revisits the 135.80 region at the end of the week.

The continuation of the current bounce should initially target the weekly high at 136.69 (May 17). More gains are expected to put the May high at 138.31 (May 9) back on the radar ahead of the 2022 high at 140.00 (Apr 21).

Meanwhile, if it remains above the 200-day SMA at 131.16, the outlook for the cross is expected to remain constructive.

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today	135.62
Today’s Daily Change	0.33
Today’s Daily Change %	0.24
Today’s Daily Opening	135.29

Trends
20 Daily SMA	136.34
50 Daily SMA	135.26
100 Daily SMA	132.54
200 Daily SMA	131.17

levels
Previous Daily High	135.46
Previous Daily Minimum	133.93
Previous Maximum Weekly	138.32
Previous Weekly Minimum	132.66
Monthly Prior Maximum	140
Previous Monthly Minimum	134.3
Daily Fibonacci 38.2%	134.88
Daily Fibonacci 61.8%	134.51
Daily Pivot Point S1	134.32
Daily Pivot Point S2	133.36
Daily Pivot Point S3	132.79
Daily Pivot Point R1	135.86
Daily Pivot Point R2	136.43
Daily Pivot Point R3	137.39

Source: Fx Street

Flora

With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.