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  • EUR/JPY continues to drift lower after being rejected from the 132.00 neighbourhood earlier in the week, where sits the critical 200-day SMA.
  • Some consolidation ahead of further gains is not ruled out following the July rally.
  • The bullish tone in the cross is poised to remain unchanged while above the daily cloud and June’s tops in the 130.40 region. This area appears reinforced by the short-term support line and the top of the cloud in the 128.80 region.
  • On the daily RSI, the cross has receded to the 60 region after flirting with overbought levels in past sessions, while the daily ADX highlights a weak trend.

EUR/JPY daily chart









Daily high: 131.45

Daily low: 130.91

Support Levels

S1: 130.91

S2: 130.44

S3: 130.00

Resistance Levels

R1: 131.82

R2: 132.26

R3: 132.73