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Analysis Team
February 15, 2021
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  • EUR/JPY pushes higher and clinches YTD peaks near 128.00.
  • The next hurdle of note comes in at the 129.30 region.

EUR/JPY extends the rally further and records fresh 2021 highs in levels just shy of 128.00 the figure on Monday.

If the buying impetus picks up extra steam, then the next resistance of note should emerge at the 129.30 zone (November 29/December 13 2018 highs) ahead of the psychological hurdle at 130.00 followed by monthly peaks at 130.14 (November 7 2018).

The prospects for near-term further upside remain in place as long as EUR/JPY trades above the immediate support line near 126.30.

Looking at the broader picture, while above the 200-day SMA at 123.71 the outlook for the cross should remain constructive.

EUR/JPY DAILY CHART

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