- EUR / JPY continues to move higher and is approaching 129.00.
- The next resistance is seen at the 129.00 region.
EUR / JPY gains additional momentum and hits new 2021 highs in the 128.80 region on Wednesday.
The bullish move in the EUR / JPY cross has not diminished for now and is initially targeting the round level of 129.00.
Overcoming this region convincingly should expose the 129.30 zone (November 29 / December 13, 2018 highs), before targeting the psychological hurdle of 130.00. Above are the November 7, 2018 highs at 130.14.
Reinforcing the idea of ​​further rises, the EUR / JPY continues to move above the immediate support line (from the low on Nov 19, 2020) near 126.60. This zone is reinforced by the 55-day SMA.
Looking at the broader outlook, as long as EUR / JPY remains above the 200 SMA today at 124.13, the outlook for should remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
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