EUR/JPY Technical Analysis: remains constructive above 130.40. Flirts with 200-day SMA.

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  • The 10-day SMA has crossed above the 100-day SMA, allowing for some continuation of the bullish sentiment for the time being.
  • The up move in the cross has stalled just ahead of the initial target at the 200-day SMA just below 132.00 the figure. Collaborating with the bullish mood, the cross continues to navigate above the daily cloud.
  • Immediate target remains the 133.50 region, levels last seen in mid-April.
  • Some caution could come to the fore, however, as the cross is poking with the overbought area – daily RSI at 68.

EUR/JPY daily chart

 

 

 

 

 

 

 

 

 

Daily high: 131.95

Daily low: 131.43

Support Levels

S1: 131.13

S2: 130.76

S3: 130.47

Resistance Levels

R1: 131.79

R2: 132.08

R3: 132.45

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