EUR/JPY Price Analysis: Upside Momentum Has Further Legs To Go

  • EUR/JPY advances to new 2023 highs near 162.00.
  • Further upside could lift the cross to the 2008 high near 170.00.

EUR/JPY resumes the upside and prints new yearly highs in the vicinity of the 162.00 yardstick on Friday.

Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.85 (November 10) is expected to face the next significant resistance level not before the 2008 peak of 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.13.
 

EUR/JPY daily chart

(Click on image to enlarge)


EUR/JPY

OVERVIEW
Today last price 161.76
Today Daily Change 55
Today Daily Change % 0.21
Today daily open 161.42
TRENDS
Daily SMA20 159.29
Daily SMA50 158.3
Daily SMA100 157.67
Daily SMA200 152.07
LEVELS
Previous Daily High 161.8
Previous Daily Low 161.36
Previous Weekly High 160.85
Previous Weekly Low 157.7
Previous Monthly High 160.85
Previous Monthly Low 154.39
Daily Fibonacci 38.2% 161.53
Daily Fibonacci 61.8% 161.63
Daily Pivot Point S1 161.26
Daily Pivot Point S2 161.1
Daily Pivot Point S3 160.83
Daily Pivot Point R1 161.69
Daily Pivot Point R2 161.96
Daily Pivot Point R3 162.12

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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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