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EUR/JPY Price Analysis: The next level on the upside is the 55-day moving average

  • EUR/JPY continues to rise and is trading around 138.00.
  • Further rallies would test the 55-day moving average around 139.60.

EUR/JPY continues the uptrend for one more session and hovers around the 138.00 area.

Considering the ongoing price action, it seems likely that the cross will continue to rise for the time being. That said, the next temporary target lines up at the 55 day SMA today at 139.61. If the cross breaks above this area, it could open the door for a likely visit to July’s high at 142.32 (July 21).

As long as it is above the 200 SMA at 133.84, the outlook for the cross is expected to remain constructive. This zone of contention also appears to be underpinned by the approach of the August low at 133.39 (Aug 2).

EUR/JPY day chart

EUR/JPY

Panorama
Last Price Today 138.21
Today’s Daily Change 0.32
Today’s Daily Change % 0.23
Today’s Daily Opening 137.89
Trends
20 Daily SMA 138.23
50 Daily SMA 139.89
100 Daily SMA 138.04
200 Daily SMA 133.85
levels
Previous Daily High 138.32
Previous Daily Minimum 137.26
Previous Maximum Weekly 137.76
Previous Weekly Minimum 133.4
Monthly Prior Maximum 142.43
Previous Monthly Minimum 135.55
Daily Fibonacci 38.2% 137.91
Daily Fibonacci 61.8% 137.67
Daily Pivot Point S1 137.33
Daily Pivot Point S2 136.77
Daily Pivot Point S3 136.28
Daily Pivot Point R1 138.38
Daily Pivot Point R2 138.87
Daily Pivot Point R3 139.43

Source: Fx Street

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