EUR/JPY Price Analysis: Solid resistance emerged at 130.00
|- EUR/JPY corrects lower after hitting 130.00 on Thursday.
- Above 130.00 comes in the November 2018 high at 130.14.
EUR/JPY run into some selling pressure following Thursday’s new 2021 highs in the 130.00 neighbourhood.
If bulls regain control in the near-term, the a move above the 130.00 mark should put the 130.14 level (November 7 2018) back on the radar ahead of the summer 2018 high at 131.98 (July 17).
Reinforcing the idea of extra gains, EUR/JPY keeps trading above the immediate support line (off November 19 2020 low) near 126.65, where also coincides the 55-day SMA.
Looking at the broader picture, while above the 200-day SMA at 124.24 the outlook for the cross should remain constructive.
EUR/JPY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.