EUR/JPY Price Analysis: Rally Aims for 2023 High at 145.60

EUR/JPY regains some balance and approaches 144.00.
The continuation of the bounce could see the yearly high revisited.

He USD/JPY manages to leave behind three consecutive sessions of losses and on Tuesday trades within a short distance of the 144.00 zone.

A further recovery of the cross is expected to find the next major hurdle at the 2023 YTD high at 145.56 (March 2). Breaking above this latter level exposes a probable move towards the December 2022 high at 146.72 (Dec 15).

As long as it holds above the 200-day SMA at 141.79, the outlook for the cross is expected to remain positive.

EUR/JPY Daily Chart

EUR/JPY Levels

USD/JPY

Panorama
Last Price Today	143.86
Today’s Daily Change	0.93
Today’s Daily Change %	0.65
Today’s Daily Open	142.93

Trends
20 Daily SMA	143.88
SMA of 50 Daily	142.01
SMA of 100 Daily	143.06
SMA of 200 Daily	141.81

levels
Previous Daily High	144.39
Minimum Previous Daily	141.37
Previous Weekly High	145.44
Previous Weekly Minimum	143.35
Maximum Prior Monthly	145.47
Minimum Prior Monthly	139.55
Daily Fibonacci 38.2%	142.52
Daily Fibonacci 61.8%	143.24
Daily Pivot Point S1	141.4
Daily Pivot Point S2	139.87
Daily Pivot Point S3	138.38
Daily Pivot Point R1	144.43
Daily Pivot Point R2	145.92
Daily Pivot Point R3	147.45

Source: Fx Street

Joshua

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.