- EUR / JPY remains within a consolidation move above the 130.00 level.
- The breakout of the yearly highs near 130.70 exposes the round level of 131.00.
The EUR / JPY cross extends the multi-day sideways move above the key barrier at the round level of 130.00 during the European session on Thursday.
For the time being, further consolidation around current levels seems possible. The resumption of the uptrend faces the next hurdle at the 2021 high near 130.70 (April 7) ahead of the round level of 131.00.
As long as the EUR / JPY remains above the short-term support line in the 128.50 / 55 region, further gains remain on the table, with the longer-term target at the 2018 high at 131.98.
Longer term, as long as it remains above the 200 SMA today at 125.79, the broader outlook for EUR / JPY should remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
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