- EUR / JPY resumes higher above the 128.00 barrier.
- The next up is lined up with the 2021 high around 128.50.
After the new peaks for this year in the 128.50 area last week, the EUR / JPY triggered a corrective decline to the 127.30 region.
The bullish movement of the last few weeks remains unchanged and is expected to retest the 128.50 zone sooner rather than later.
A convincing overtaking of this area should expose the 129.30 zone (November 29 and December 13, 2018 highs) before the psychological hurdle at 130.00. Above are the monthly peaks at 130.14 (November 7, 2018).
Reinforcing the idea of ​​a higher rally, the EUR / JPY continues to trade above the immediate support line (from the low of November 19, 2020) near 126.50. This area is reinforced by the 55-day SMA, also in this region.
From a broader perspective, as long as the cross remains above the 200 SMA at 124.01, the bias will remain bullish.
EUR / JPY day chart
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