- The cross initial upside met strong resistance at the 132.00 neighbourhood, coincident with July’s peaks.
- After the initial up move, EUR/JPY has come under some downside pressure, although the area around the key 220-day SMA at 131.00 offered decent contention for the time being.
- This area of support is also reinforced by the 210-day SMA at 130.93 and the short-term support line, today at 130.65.
- Initially, the cross should regain the 132.00 area on a sustainable basis to allow a potential re-test of recent peaks above 133.00 the figure.
EUR/JPY daily chart
Daily high: 132.00
Daily low: 130.96
Support Levels
S1: 130.64
S2: 130.02
S3: 129.33
Resistance Levels
R1: 131.95
R2: 132.64
R3: 133.26
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