- The EUR / JPY struggles to find a direction around the 131.60 region.
- Extra support comes at the 100-day SMA near 131.00.
The EUR/JPY It operates without a clear direction at the beginning of the week.
The continuation of the state of consolidation seems likely at least in the short term. Losing from last week’s lows at 131.30 should open the door for a move to minor support just below 131.00, where the 100-day SMA is located.
On the other hand, to see more gains, the 132.85 / 90 band must be overcome, where it coincides with the weekly highs and the resistance line from the 2021 lows (January 18 low).
On the bigger picture, as long as it remains above the 200 SMA at 128.01, the overall outlook for the crossover should remain constructive.
EUR / JPY day chart
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