EUR/JPY Price Analysis: Upside Target Remains At 160.00

  • EUR/JPY alternates gains with losses around the 158.00 zone.
  • Next on the upside comes the 2023 peak at 159.76.

EUR/JPY navigates within a narrow range around the 158.00 region on Tuesday.

The continuation of the uptrend could see the cross challenging the recent 2023 peak at near 159.76 (August 30) ahead of the key round level at 160.00. The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23).

In the meantime, the resumption of the selling pressure is expected to meet initial support at the weekly low around 157.00 (September 1), an area reinforced by the temporary 55-day SMA (157.02).

So far, the longer-term positive outlook for the cross appears favored while above the 200-day SMA, today at 148.12.
 

EUR/JPY daily chart

(Click on image to enlarge)


EUR/JPY

OVERVIEW
Today last price 158.12
Today Daily Change 60
Today Daily Change % 0.05
Today daily open 158.04
TRENDS
Daily SMA20 158.35
Daily SMA50 157.1
Daily SMA100 153.58
Daily SMA200 148.09
LEVELS
Previous Daily High 158.25
Previous Daily Low 157.33
Previous Weekly High 159.76
Previous Weekly Low 157.06
Previous Monthly High 159.76
Previous Monthly Low 155.53
Daily Fibonacci 38.2% 157.9
Daily Fibonacci 61.8% 157.68
Daily Pivot Point S1 157.5
Daily Pivot Point S2 156.96
Daily Pivot Point S3 156.58
Daily Pivot Point R1 158.41
Daily Pivot Point R2 158.79
Daily Pivot Point R3 159.33

More By This Author:

USD Index Regains Composure Near 104.30 Ahead Of Data
EUR/USD Price Analysis: Still Room For Extra Losses
EUR/JPY Price Analysis: Decent Support Emerges Around 157.00

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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