EUR/JPY starts the week on a soft note, drops to 129.70. There is an interim support at the 50-day SMA. EUR/JPY manages to reverse an initial drop to the 129.70 region, although it keeps the bearish note so far on Monday. The continuation of the current consolidative theme looks the most likely scenario in the very near-term at least. However, further gains in the Japanese currency carries the potential to force the cross to creep lower and face the next minor support at the 50-day SMA, today at 129.13. The resumption of the upside, on the other hand, is expected to meet the next hurdle at the 2021 high near 130.70 (April 7) ahead of the 131.00 mark. While above the 5-month support line near 128.70, extra gains remain on the table, with the longer term target at the 2018 high at 131.98 (July 17). In the meantime, while above the 200-day SMA at 125.88 the broader outlook for the cross should remain constructive. EUR/JPY daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF dives to the lowest level since early March, around 0.9130 area FX Street 2 years EUR/JPY starts the week on a soft note, drops to 129.70. There is an interim support at the 50-day SMA. EUR/JPY manages to reverse an initial drop to the 129.70 region, although it keeps the bearish note so far on Monday. The continuation of the current consolidative theme looks the most likely scenario in the very near-term at least. However, further gains in the Japanese currency carries the potential to force the cross to creep lower and face the next minor support at the 50-day SMA, today at 129.13. The resumption of the upside, on the other hand, is expected… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
