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Refreshes multi-month top around mid-132.00s

13 May 2021

EUR/JPY takes the bids to fresh high in 32 months. Upbeat MACD, sustained trading beyond 200-SMA favor buyers. Rising wedge resistance, September 2018 top test upside momentum. EUR/JPY rises to a fresh high since September 2018 while picking up the bids near 132.55, up 0.10% intraday, during early Thursday.

Although bullish MACD and the pair’s ability to stay firm beyond 200-SMA keep EUR/JPY buyers hopeful, a rising wedge bearish formation on the four-hour (4H) chart joins RSI’s run-up towards the overbought territory to challenges the upside.

Hence, the pair’s moves between 132.60 and 131.90, comprising the stated wedge’s extremes, seem less important. Also acting as the upside barriers are highest marked in September and April months of 2018, respectively around 133.15 and 133.50.

Meanwhile, a downside break of 131.90 will have to conquer the 200-SMA level close to 130.75 before directing EUR/JPY bears toward the theoretical target near 129.00.

During the fall, the monthly low near 131.00 and late April bottom close to 129.60 may act as intermediate halts.



EUR/JPY drops to daily lows, approaches 133.00

EUR/JPY loses further ground and looks to test 133.00. The yen remains bid and weighs on the cross on Wednesday. The FOMC meeting will be the salient event...

17 Jun 2021

EUR/JPY challenges 133.00, or 2-week lows

Investors' sentiment slightly favours the dollar at the beginning of the week and motivates EUR/JPY to slip back to the 133.00 neighbourhood, or 2-week lows.

7 Jun 2021

EURJPY cools near 134.00 level but climb remains intact

EURJPY has hiked towards a 39 month high marginally overshooting the 134.00 handle. Although the pair's immediate bullish drive has vanished just short...

1 Jun 2021

EURJPY H4: Bulls are rocking the boat

The EURJPY currency pair on the H4 time frame was in a down trend until 24 May when a lower bottom was recorded at 132.523. After the top at 132.523, the market broke...

25 May 2021

EURJPY returns up to 3-year high

EURJPY is strongly positive as it reached a fresh 3-year peak at 133.42 on May 18. The MACD is standing near the trigger and above the zero lines, and the RSI...

25 May 2021

EUR/JPY to enjoy considerable gains towards the 137.51 2018 high

EUR/JPY remains bid despite minor dip. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, expects the pair to advance nicely and eventually reach...

3 May 2021

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