- EUR / JPY dampens the move to new 2021 highs around 130.70.
- Next bullish target at 131.00.
EUR / JPY is correcting lower after hitting new yearly highs in the vicinity of 130.70 on Wednesday.
The recovery remains healthy and a breakthrough to this year’s peaks should put the 131.00 level back on the radar. As long as it is above the short-term support line of the 128.30 region, additional gains are likely. This area of containment is reinforced by the proximity to the 50-day SMA at 128.61.
Above 131.00 it is at the 2018 high at 131.98 (July 17).
As long as it is above the 200 day SMA at 125.55, the overall outlook for EUR / JPY should remain constructive.
EUR / JPY day chart
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