Strong bullish momentum points to 130.00 and beyond

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  • EUR / JPY remains very firm and is approaching the 130.00 level.
  • Above 130.00 it is at the November 2018 high at 130.14.

The EUR / JPY cross extends the current bullish momentum and is approaching the psychological hurdle of 130.00.

A move above the 130.00 level should put 130.14 (7 Nov 2018 high) back on the radar before targeting the summer 2018 high of 131.98 (Jul 17).

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Reinforcing the idea of ​​further rises, the EUR / JPY continues to move above the immediate support line (from the low of November 19, 2020) near 126.65. 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 124.19, the outlook for should remain constructive.

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EUR / JPY daily chart

EURJPY

EUR / JPY technical levels

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