- EUR / JPY extends the consolidation move above the 130.00 level.
- The next resistance on the upside is the yearly highs near 131.00.
The EUR / JPY cross extends the multi-day sideways movement above the key round level of 130.00 so far this week.
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. This zone of contention is reinforced by the proximity of the 50-day SMA at 128.92.
Longer term, as long as it remains above the 200 day SMA today at 125.74, the broader outlook for EUR / JPY should remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
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