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The EUR/JPY bulls have come out victorious in a two-week-long tug of war with the bears. As a result, the immediate resistance of 130.00 could be put to test before the NY close.

Daily chart

  • As seen above, the pair crossed the upper edge of the narrowing price range yesterday, confirming a symmetrical triangle breakout. Further, it charted a hammer candle yesterday, validating the bullish breakout.  
  • So, the emboldened bulls could push the pair higher to 130.15 (Nov. 7 high). A convincing move past that level would open up upside toward 132.00.
  • A close below yesterday’s low of 128.67 would neutralize the bullish setup.

Trend: Bullish

EUR/JPY

Overview:
       Today Last Price:  129.15
       Today Daily change:  0.0  pips
       Today Daily change %:  0.00%
       Today Daily Open:  129.15
Trends:
       Previous Daily SMA20:  128.82
       Previous Daily SMA50:  129.54
       Previous Daily SMA100:  129.43
       Previous Daily SMA200:  129.86
Levels:
       Previous Daily High:  129.26
       Previous Daily Low:  128.66
       Previous Weekly High:  129.12
       Previous Weekly Low:  127.82
       Previous Monthly High:  132.49
       Previous Monthly Low:  126.63
       Previous Daily Fibonacci 38.2%:  128.89
       Previous Daily Fibonacci 61.8%:  129.03
       Previous Daily Pivot Point S1:  128.79
       Previous Daily Pivot Point S2:  128.43
       Previous Daily Pivot Point S3:  128.2
       Previous Daily Pivot Point R1:  129.38
       Previous Daily Pivot Point R2:  129.61
       Previous Daily Pivot Point R3:  129.97