- The broad-based sell off in the single currency is now dragging EUR/JPY to trade on the defensive for the third day in a row.
- The immediate target on the downside stays at the critical 200-day SMA, today just above 131.00 the figure.
- If the selling pressure gathers further traction, the cross could re-test the 21-day SMA at 130.55.
- The constructive view remains in place as long as the short-term support line, today at 129.1, holds.
EUR/JPY daily chart
Daily high: 132.32
Daily low: 131.17
Support Levels
S1: 131.47
S2: 130.96
S3: 130.35
Resistance Levels
R1: 132.59
R2: 133.20
R3: 133.51
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