- EUR / JPY continues to trade sideways near 130.00.
- Immediately on the upside, they are the peak of this year near 130.70.
EUR / JPY extends sideways for a new session on Friday, always above the key 130.00 barrier.
The continuation of the current consolidation theme seems the most likely scenario at least in the very short term. The resumption of the upside is expected to face resistance at the next hurdle at the 2021 high near 130.70 (April 7 high) before 131.00.
While above the 5-month support line near 128.70, more rises remain on the table, with the longer-term target at the 2018 high at 131.98.
Meanwhile, as long as it is above the 200-day SMA at 125.83, the overall outlook for the cross should remain constructive.
EUR / JPY day chart
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