- EUR / JPY extends the rises and revisits 130.00.
- The next potential target on the upside is the 2021 high at 130.66.
EUR / JPY is trading at weekly highs and finally picks up key resistance around the 130.00 zone.
The recovery still looks healthy and a daily close above 130.00 should pave the way for a possible move towards the 2021 high at 130.66 (March 18). As long as it is above the short-term support line at the 128.20 zone, more rises remain well on the table. This containment area coincides with the 50-day simple moving average.
Meanwhile, as long as it is above the 200-day SMA at 125.31, the broader outlook for the cross should remain bullish.
EUR / JPY day chart
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