- EUR / JPY is trading in the zone of the 2021 highs well above 132.00.
- The next target to highlight is now in the 133.00 area.
EUR / JPY reverses Thursday’s pullback and resumes its upward journey with an immediate target at this year’s highs around 132.80 (May 13).
Should the latter be left behind, then the timing could push the crossover to attempt a move towards the 133.00 neighborhood before the September 2018 high at 133.13. Further gains are likely as long as it is above the immediate support line (from March lows) near 130.50. This area is also reinforced by the 50-day SMA, today at 130.38.
On a more global view, as long as EUR / JPY remains above the 200 SMA at 126.64, the outlook should remain constructive.
EUR / JPY day chart
.
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.
