EUR/JPY chart - Trading View
EUR/JPY was trading 0.27% lower on the day at 133.36 at around 10:45 GMT.
The pair tested fresh 3-year highs above 134 mark, before easing slightly amid overbought conditions.
US President Joe Biden’s push for a tax hike and extending bans on 59 Chinese companies, add to the market’s downbeat sentiment.
Risk-off supports the safe-haven Japanese yen, weighing on the pair. Minor weakness to ensue.
The pair has paused upside after 7 months of bullishness. Major trend still remains bullish and pullbacks are likely to be shallow.
Price action has shown a decisive break above 200-month MA which has opened upside in the pair.
Strong supports align at 133 (20-DMA), 132.05 (76.4% Fib) and 131.54 (55-EMA). Breach below daily cloud will change near-term bias.
