- EUR / JPY finds resistance near 133.00 on Friday.
- The immediate obstacle comes in the area of the highs of the month near 133.50.
Sellers returned to the market and dragged EUR / JPY back into negative territory on Friday.
The previous peak met the initial hurdle near 133.00 at the end of the week after recovering from weekly lows at the 131.50 area. The continued recovery could extend further into the very short term and retest the October high near 133.50 (October 20 high). This is considered the last defense for a likely 2021 high beyond 134.00.
In the broader scenario, as long as the cross remains above the 200 SMA at 130.20, the outlook for the cross is expected to remain constructive.
EUR / JPY day chart
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