- EUR / JPY briefly broke through the 118.00 barrier on Wednesday.
- Immediately on the rise emerges the key barrier in the 119.00 zone.
EUR / JPY prolongs the bullish momentum on the back of the renewed confidence in the risk complex, managing to recover the 118.00, although losing momentum thereafter.
After crossing the summits at the end of April / May around 117.80, the cross has now drawn attention to the April summit in neighborhood 119.00. This resistance is reinforced by the proximity of the SMA at 100 days and at 200 days at 118.92 and 119.25, respectively.
A move above the 200-day SMA should ease the downward pressure and provide further gains at the March highs in the 121.00 region.