- EUR/JPY is prolonging the weekly recovery on the back of the continuation of the selling bias surrounding the Japanese safe haven currency.
- Further upside should now meet the key 55-day SMA at levels just below 129.00 the figure. This area of resistance is reinforced by the low-129.00s, late July lows and early August peaks.
- If cleared, the area above the 131.00 handle should be back on the radar ahead of the critical 200-day SMA at 131.37 and July tops beyond 132.00 the figure.
EUR/JPY daily chart
Daily high: 128.46
Daily low: 127.91
Support Levels
S1: 127.60
S2: 127.00
S3: 126.66
Resistance Levels
R1: 128.55
R2: 128.90
R3: 129.50
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