- EUR / JPY’s weekly recovery loses momentum at the 132.50 / 60 band.
- The next bullish target comes in at 133.00 ahead of this year’s highs.
The EUR/JPY it advanced above 132.00 on Thursday, advancing for the fourth consecutive session.
The recovery looks healthy and is now flirting with the six-month resistance line near 132.60. Above this area, the crossover is forecast to accelerate gains to initially 133.00 ahead of the 2021 highs at 134.12 (posted on June 1).
On the bigger picture, as long as the cross remains above the 200-day SMA at 127.71, the outlook should remain constructive.
EUR / JPY day chart
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