EUR/JPY Tumbles To The Trendline

The euro took a hit after the suspension of the AstraZeneca shots caused a hiatus in the vaccine campaign across the continent.

A diverging RSI in the overbought zone suggests an overextension and a loss in the bullish momentum. The pair is testing the rising trendline as the RSI goes into oversold. A failure to bounce back could send the price to the 20-day moving average (128.85).

On the upside, 130.40 may keep a lid on the price action for the next few days.