Sat, Oct 23, 2021 @ 10:00 GMT

EUR/JPY Seeks Support

The Japanese yen weakened after the BOJ warned of a recovery delay in its meeting minutes. The euro has capitalized on its rebound from the daily demand zone around 128.00.

A close above 129.65 may have tipped the balance to the upside. A break above 130.10 would pave the way to the key resistance of 130.70 on the daily chart.

However, a descending RSI from the overbought zone is in contrast with the price’s higher highs. There is a risk of a pullback as the momentum slows down. 129.40 is the immediate support.

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