- The cross is prolonging its rebound from last week’s lows in the 125.00 neighbourhood, regaining more than 3 cents and poised for a potential test of the 129.00 region.
- Immediate target for the up move in EUR/JPY is now the base of the daily cloud in the mid-128.00s ahead of the 55-day SMA at 128.97. If cleared, July’s 27 low at 129.08 should come to the fore.
- Further north, a move above the 131.10/40 band, where converge late July peaks and the 200-day SMA should open the door to a visit to July’s top just beyond 132.00 the figure.
EUR/JPY daily chart
Daily high: 128.17
Daily low: 127.34
Support Levels
S1: 126.57
S2: 125.51
S3: 124.76
Resistance Levels
R1: 128.38
R2: 129.14
R3: 130.20
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