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EUR/JPY Price Analysis: Unrestricted recovery so far

  • EUR/JPY advances towards new yearly highs above 161.00.
  • There are no major upside barriers to the 2008 high near 170.00.

He EUR/JPY extends its northward march for the fifth consecutive session and hits a new 2023 high beyond the 161.00 hurdle on Wednesday.

On the short-term horizon, the cross could continue to rise. Conversely, the breakout of the 2023 high of 161.05 (November 8) is expected to face the next significant resistance level, not before the 2008 high of 169.96 (July 23).

For now, the positive long-term outlook for the cross seems favored as long as it remains above the 200-day SMA, today at 151.92.

EUR/JPY Daily Chart

EUR/JPY

Overview
Latest price today 160.98
Today I change daily 36
Today’s daily variation 0.05
Today daily opening 160.9
Trends
daily SMA20 158.94
daily SMA50 158.19
SMA100 daily 157.57
SMA200 daily 151.86
Levels
Previous daily high 161.03
Previous daily low 160.43
Previous weekly high 160.85
Previous weekly low 157.7
Previous Monthly High 160.85
Previous monthly low 154.39
Daily Fibonacci 38.2 160.8
Fibonacci 61.8% daily 160.66
Daily Pivot Point S1 160.54
Daily Pivot Point S2 160.19
Daily Pivot Point S3 159.94
Daily Pivot Point R1 161.14
Daily Pivot Point R2 161.38
Daily Pivot Point R3 161.74

Source: Fx Street

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