- EUR/JPY is extending the leg lower, advancing in just two out of the last nine sessions following 3-month peaks in the 132.00 neighbourhood (July 17).
- The cross pierced the critical short-term support line around 129.65 and has now opened the door for extra pullbacks.
- Strong support, however, should emerge in the top of the cloud near 129.00 the figure. As long as this area holds, a potential re-test of the 200-day SMA in the 131.80 area remains on the cards.
EUR/JPY daily chart
Daily high: 129.55
Daily low: 129.20
Support Levels
S1: 129.20
S2: 128.90
S3: 128.35
Resistance Levels
R1: 130.05
R2: 130.60
R3: 130.90
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