- EUR / JPY extends the state of consolidation above 130.00.
- In case of extending the advance, 131.00 appears.
EUR / JPY remains without clear direction above the key 130.00 barrier at the beginning of the week.
For the moment, a further consolidation around current levels appears to be in favor. The resumption of the uptrend faces the next hurdle at the 2021 high near 130.70 (April 7) ahead of the 131.00 zone.
While above the short-term support line at the 128.40 region, additional gains remain on the table, with the longer-term target at the 2018 high at 131.98. This support area is reinforced by the proximity of the 50-day SMA at 128.76.
Meanwhile, if it continues above the 200 SMA at 125.65, the overall outlook will remain bullish.
EUR / JPY day chart
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