Cross-rate signals: EUR/JPY maintains an uptrend

The EUR/JPY cross-rate has been on an upward trend since the beginning of April, which is caused by the continued optimism of the euro and the lowering of risks, which, in turn, put pressure on the yen as an asset of a safe haven.

At the same time, the further growth of the EUR/JPY pair may be limited to the zone of resistance 132.80-133.00. Fixing the price above will open the way to the levels: 133.40-50 and 134.00-20. Also, you can consider buying from the bottom of the uplink at 132.50. The deterrent for the pair is the bearish divergence on the H4 timeframe, which may result in flat. Fixing the cross below 132.50-20, cancels the expectation for strengthening.

Fig. EUR/JPY. The current price is 132.70.

Hanzenko Anton