- EUR / JPY hits new 2021 highs just below 134.00.
- Initial support is seen at 132.00 so far.
The EUR/JPY it surpassed the issue of consolidation and reached new highs to date in the area just below 134.00, the highest level since February 2018.
There remains more upside potential with the target in the 134-50 region, where the highs of September / October and early December 2018 coincide.
The buying pressure is likely to continue as long as the cross remains buttressed by the immediate support line (away from the March lows) near 131.00. This area is also reinforced by the proximity of the 50-day SMA.
However, a possible very short-term corrective move should not be ruled out as the EUR / JPY navigates the overbought territory, according to the daily RSI (74.21). Against this, there is interim support around 132.50 (May 24 low).
On the bigger picture, while above the 200-day SMA at 127.02, the broader outlook for the crossover should remain constructive.
Daily chart
Technical levels
EUR/JPY
| Panorama | |
|---|---|
| Today’s Last Price | 133.67 |
| Today’s Daily Change | -0.25 |
| Today’s Daily Change% | -0.19 |
| Today’s Daily Opening | 133.92 |
| Trends | |
|---|---|
| SMA of 20 Daily | 132.41 |
| SMA of 50 Daily | 131.02 |
| SMA of 100 Daily | 129.31 |
| 200 SMA Daily | 127.03 |
| Levels | |
|---|---|
| Daily Previous Maximum | 134.06 |
| Daily Previous Minimum | 132.93 |
| Weekly Preview Maximum | 133.44 |
| Weekly Prior Minimum | 132.51 |
| Monthly Previous Maximum | 132.37 |
| Minimum Previous Monthly | 129.57 |
| Daily Fibonacci 38.2% | 133.63 |
| Daily Fibonacci 61.8% | 133.36 |
| Daily Pivot Point S1 | 133.21 |
| Daily Pivot Point S2 | 132.51 |
| Daily Pivot Point S3 | 132.09 |
| Daily Pivot Point R1 | 134.34 |
| Daily Pivot Point R2 | 134.76 |
| Daily Pivot Point R3 | 135.46 |
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