- The cross is now attempting some consolidation after the recent rejection from the key 200-day SMA in the 131.90 region.
- The positive prospects for the cross remains well and sound, as it keeps trading above the daily cloud.
- Another move to re-test the 132.00 neighbourhood stays alive as long as the cloud and the short-term support line (today at 129.00) continue to underpin.
- In addition, the daily RSI reads 59, while the ADX at 18 notes the weak momentum behind the trend.
EUR/JPY daily chart
Daily high: 131.23
Daily low: 130.59
Support Levels
S1: 130.64
S2: 130.32
S3: 129.92
Resistance Levels
R1: 131.37
R2: 131.78
R3: 132.10
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