- The EUR / JPY rally finds stiff resistance around 128.50.
- Higher up comes psychological resistance at 130.00.
After hitting new peaks this year at the 128.50 area, the EUR / JPY saw a correction towards levels below 128.00 on Wednesday.
In the event that the uptrend resumes in the short term, the next resistance to highlight appears at the 129.30 zone (highs of November 29 and December 13, 2018) before the psychological barrier at 130.00. Above are the monthly peaks at 130.14 (November 7, 2018 high).
Reinforcing the idea of ​​a bullish extension, the EUR / JPY continues to trade above the immediate support line (from the low of November 19, 2020) near 126.40.
Looking from a broader perspective, as long as it remains above the 200-day SMA at 123.83, the outlook for the crossover should remain constructive.
EUR / JPY day chart
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