- EUR/JPY is bouncing off session lows following a sharp drop in the Japanese safe haven, particularly after the solid prints from US Non-farm Payrolls during last month.
- The cross is reverting yesterday’s drop, although it remains under pressure and closer to the critical 21-day SMA, today at 128.16. A loss of this handle could open the door for a re-test of recent lows at 124.88 (August 15).
- Interim supports, however, aligns at 127.61 and 126.57, the 50% and 38.2% Fibo retracements of the July-August drop, respectively.
EUR/JPY daily chart
Daily high: 129.12
Daily low: 128.21
Support Levels
S1: 128.19
S2: 127.66
S3: 126.83
Resistance Levels
R1: 129.56
R2: 130.40
R3: 130.93
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