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30 Jul 2021

EUR/JPY Price Analysis: Interim hurdle aligns at 130.70

  • EUR/JPY keeps business near recent tops.
  • Further upside should meet a minor support at 130.67.

EUR/JPY resumes the upside and leaves behind Thursday’s small losses amidst inconclusive price action.

If the buying pressure gathers extra steam, then there is an interim hurdle at the Fibo level at 130.67. A surpass of this level should put the weekly top at 131.08 back on the radar (July 13). Above this area, the selling pressure is expected to subside.

In the meantime, while above the 200-day SMA at 128.59, the outlook for EUR/JPY is expected to remain constructive.

EUR/JPY daily chart

 

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