- EUR/JPY came under further selling pressure following the sharp pullback in the European currency and is testing the critical 200-day SMA and the short-term support line around the 131.00 neighbourhood.
- A break below this area should allow the decline to test the 55-day SMA and the 100-day SMA at 129.62 and 129.37, respectively.
- In case the selling impetus intensifies its pace, September’s low at 127.86 would come to the fore.
EUR/JPY daily chart
Daily high: 131.59
Daily low: 131.00
Support Levels
S1: 130.95
S2: 130.44
S3: 129.91
Resistance Levels
R1: 131.99
R2: 132.52
R3: 133.03
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