- EUR / JPY reverses Monday’s decline and regains the 129.50 region.
- The 2021 highs near 130.70 appear as the next target.
The EUR / JPY cross leaves Monday’s retracement behind and advances above the 129.00 level on Tuesday.
The recovery appears firm and initially targets the intermediate hurdle at the 130.00 level, followed by the 2021 high at 130.66 (March 18). As long as it is above the short-term support line near 128.00, additional gains remain on the table. This area of ​​contention coincides with the 50-day SMA.
On the broader view, as long as EUR / JPY remains above the 200 SMA at 125.22, the outlook should remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
