- EUR / JPY extends the move to new 2021 highs around 133.50.
- Higher up is the round level of 134.00.
The EUR / JPY cross maintains the firm move to the upside and leaves last week’s consolidation behind to hit new yearly highs in the 133.50 / 55 region.
More gains are likely in the very short term. That said, there is intermediate resistance around the 134.00 region. Further rallies should remain on the table as long as the cross remains above the immediate support line (from the March lows) near 130.80. This area is also reinforced by the 50-day SMA, today at 130.84.
However, a possible very short-term corrective move should not be ruled out as the EUR / JPY has entered overbought territory, based on the daily RSI at the 72 level.
In the bigger picture, as long as EUR / JPY remains above the 200 day SMA, today at 126.91, the outlook should remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
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