- EUR / JPY extends the consolidation pattern around 130.00.
- An overcoming of this year’s highs should put 131.00 on the horizon.
EUR / JPY remains sideways around the 130.00 area, on a Tuesday session dominated by sideways movements.
Further consolidation around current levels appears to be favored in the very short term. The resumption of the uptrend faces the next hurdle at the 2021 high near 130.70 (April 7) ahead of the 131.00 area.
Above the short-term support line around 128.50, more raises would be expected, with the longer-term target at the 2018 high at 131.98 (July 17). This area of ​​containment is reinforced by the proximity to the 50-day SMA at 128.83.
As long as it is above the 200-day SMA at 125.69, the overall outlook for the cross should remain constructive.
EUR / JPY day chart
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
