EUR/JPY looks offered, struggles for direction around 130.50

• EUR/JPY meets support around the 200-day SMA near 130.40.
• The dollar’s upside loses momentum after hitting 2021 highs.
• The US flash Consumer Sentiment for November comes next.

EUR/JPY remains under pressure and navigates the fourth consecutive session with losses on Friday, this time around the 130.40 region, where the key 200-day SMA is also located.

EUR/JPY looks to USD, data

EUR/JPY remains on track to close the fourth consecutive week with losses, extending the rejection from October’s high near 133.50.

The solid momentum in the greenback has been weighing on the performance of the risk-associated assets in past weeks, all amidst the corrective downside in US yields along the curve, while the latest US inflation figures only added to the dollar’s attractiveness.

Earlier in the calendar, Industrial Production in the broader Euroland surprised to the upside after contracting 0.2% MoM in September and 5.2% over the last twelve months.

In the NA session, the preliminary November Consumer Sentiment gauge comes up next.

EUR/JPY relevant levels

So far, the cross is losing 0.06% at 130.51 and a surpass of 131.51 (38.2% Fibo of the October upside) would expose 131.85 (20-day SMA) and then 132.56 (monthly high Nov.4). On the downside, the next support comes at 130.41 (monthly low Nov.12) followed by 130.23 (100-day SMA) and finally 129.43 (78.6% Fibo of the October upside).