- After bottoming out in the mid-128.00s on Monday, EUR/JPY is now finding some buying interest along with the better tone surrounding the single currency.
- The cross has recently broken below the key support in the 129.00 region, coincident with late July low and the top of the daily cloud, leaving the door open for a continuation of the move lower. The break below the short term support (now resistance) line also reinforces the idea of further pullbacks ahead.
- The cross needs to regain, initially, the 130.40 region to allow a test of the interim hurdle in the 131.15 area ahead of July’s peak just above 132.00 the figure.
EUR/JPY daily chart
Daily high: 129.01
Daily low: 128.58
Support Levels
S1: 128.50
S2: 128.29
S3: 128.09
Resistance Levels
R1: 128.91
R2: 129.11
R3: 129.32
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