EUR/JPY Price Analysis: Initial Resistance Comes Around 148.00

  • EUR/JPY’s recovery appears to have met initial hurdle near 148.00.
  • The  continuation of the rebound targets the weekly high near 149.30.

The ongoing upside momentum in EUR/JPY struggles to surpass the 148.00 region with conviction on Tuesday.

Once the 148.00 area is surpassed, the cross should be able to challenge the weekly peak at 149.26 (May 8). The surpass of this level could pave the way for a potential test of the YTD high at 151.61 (May 2).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 143.11.
 

EUR/JPY daily chart

(Click on image to enlarge)


EUR/JPY

OVERVIEW
Today last price 147.97
Today Daily Change 50
Today Daily Change % -0.04
Today daily open 148.03
TRENDS
Daily SMA20 148.15
Daily SMA50 145.46
Daily SMA100 143.6
Daily SMA200 143.09
LEVELS
Previous Daily High 148.18
Previous Daily Low 147.22
Previous Weekly High 149.27
Previous Weekly Low 146.14
Previous Monthly High 150.44
Previous Monthly Low 142.55
Daily Fibonacci 38.2% 147.81
Daily Fibonacci 61.8% 147.59
Daily Pivot Point S1 147.44
Daily Pivot Point S2 146.86
Daily Pivot Point S3 146.49
Daily Pivot Point R1 148.4
Daily Pivot Point R2 148.76
Daily Pivot Point R3 149.35

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Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...

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