- EUR/JPY is hovering over the 129.00 region helped by a better tone around the European currency. This area is key, as it coincides with the late-July’s low, a retracement of the May-July up move and the 10/55-day SMA.
- A sustainable break above this area should put the resistance line back on the radar, currently at 130.50, ahead of late August’s peaks near 130.90.
- If the upside bias persists, a test to the 200-day SMA at 131.29 should start to gain traction.
EUR/JPY daily chart
Daily high: 129.86
Daily low: 128.90
Support Levels
S1: 128.37
S2: 127.81
S3: 127.07
Resistance Levels
R1: 129.68
R2: 130.42
R3: 130.98
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