- A further recovery now points to the key level of 130.00.
- EUR / JPY regains some strength after bottoming out at multi-week lows around 128.30 on Friday.
Meanwhile, as long as the cross navigates above the 127.75 / 80 band, where the 50-day SMA and the short-term support line coincide (from the November low), more rises should remain on the board at the short term.
A break below 127.75 / 80 should ease the upward pressure and allow the downtrend to continue, at least in the short term.
Meanwhile, if it continues above the 200 SMA at 125.12, the overall outlook for the cross should remain constructive.
EUR / JPY day chart
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