EUR/JPY Price Analysis: More rally targets 2014 high near 150.00

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  • EUR/JPY is under pressure after hitting new 2022 highs.
  • The continuation of the rise could see the 2014 high revisited.

EUR/JPY hit new highs in years in the 144.30/35 band on Thursday, but then gave back some of the ground gained.

More upside at the cross seems favored at the moment. The next target, however, is not expected to emerge until the 2014 high of 149.78 (8 Dec).

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As long as it is above the 200 SMA at 134.82, the outlook for EUR/JPY should remain constructive.

However, it is worth noting the current overbought condition of the EUR/JPY, which could trigger a technical correction in the short term.

EUR/JPY day chart

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EUR/JPY

Panorama
Last Price Today 143.75
Today’s Daily Change -0.14
Today’s Daily Change % -0.10
Today’s Daily Opening 143.89
Trends
20 Daily SMA 138.13
50 Daily SMA 138.37
100 Daily SMA 138.52
200 Daily SMA 134.72
levels
Previous Daily High 144.01
Previous Daily Minimum 141.37
Previous Maximum Weekly 140.75
Previous Weekly Minimum 137.04
Monthly Prior Maximum 139.73
Previous Monthly Minimum 133.4
Daily Fibonacci 38.2% 143
Daily Fibonacci 61.8% 142.38
Daily Pivot Point S1 142.17
Daily Pivot Point S2 140.46
Daily Pivot Point S3 139.54
Daily Pivot Point R1 144.81
Daily Pivot Point R2 145.73
Daily Pivot Point R3 147.45

Source: Fx Street

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