- The cross met extra downside pressure today following a renewed offered bias around the European currency.
- EUR/JPY has broken below the key support at 129.00 the figure, testing weekly lows in the 128.70 region and open in the door for a potential visit to the key 21-day SMA at 128.10.
- Deeper retracements should find interim support at 127.44 and 126.20 (Fibo retracements of the May-July up move) ahead of 124.88 (mid-August low), considered the last defence before YTD lows in the 124.60 area.
EUR/JPY daily chart
Daily high: 129.16
Daily low: 128.50
Support Levels
S1: 128.69
S2: 128.34
S3: 128.11
Resistance Levels
R1: 129.28
R2: 129.52
R3: 129.87
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