- The cross is trading on a weak note today following two sessions in a row posting gains, with the recent up move running out of legs in the vicinity of the psychological 130.00 the figure.
- As long as the monthly low at 127.86 (September 10) underpins, EUR/JPY could still re-test the key 200-day SMA, today at 131.15. Once surpassed on a convincing note, July’s peaks just above the 132.00 mark should be back on the radar.
- Looking south, interim support lies at the 21-day SMA at 128.55. This area is reinforced by the 50% Fibo retracement of the July-August decline at 128.45.
EUR/JPY daily chart
Daily high: 129.58
Daily low: 128.93
Support Levels
S1: 128.93
S2: 128.31
S3: 127.86
Resistance Levels
R1: 130.00
R2: 130.45
R3: 131.07
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