- EUR / JPY is under pressure having set new 2021 highs.
- Intermediate support appears at the 20-day moving average near 130.50.
EUR / JPY is trading lower after hitting new peaks for this year at the 132.35 / 40 area on Thursday.
The current price action suggests that the rally remains healthy in the short term. That said, the breakout of the recent highs should open the door for 133.00 initially and then the focus for the September 2018 high at 133.13.
The immediate support line near 129.90 sustains the bullish momentum in the near term. This provisional containment area is reinforced by the 50-day SMA at 129.75.
As long as it is above the 200 day SMA at 126.26, the broad overview for the cross should remain bullish.
EUR / JPY day chart
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