- EUR / JPY extends Thursday’s gains and is approaching 128.00.
- Higher up is the annual high at 128.50 (February 17).
EUR / JPY bullish momentum remains strong, with the cross now flirting with the key barrier near the round 128.00 level.
The recent bullish move has found resistance near 128.50 for the time being, prompting a corrective slide to the 127.30 region on Wednesday.
A convincing move above the 2021 highs near 128.50 should expose the 129.30 zone (Nov 29-Dec 13, 2018 highs), before targeting the psychological hurdle of 130.00. Above are the November 2018 highs at 130.14.
Reinforcing the idea of ​​further rises, the EUR / JPY continues to move above the immediate support line (from the low of November 19, 2020), near 126.50.
Looking at the bigger picture, as long as EUR / JPY remains above the 200 SMA today at 123.95, the outlook should remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
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