EUR/JPY technical analysis: capped by the 200-D SMA, 129 to hold on dips
|- EUR/JPY has been on the defensive for the past week, capped by the 200-D SMA but supported by the 50-D SMA.
- EUR/JPY is in a neutral position with RSI directionless on the daily sticks.
Spot rate: 129.94.
High: 130.02 (Asia).
Low: 129.93 (Asia).
Trend: Neutral.
Resistance 1: 130.36 (recent highs), 100-D SMA 130.16/10-D SMA 130.20.
Resistance 2: 200 day sma and recent high at 131.78/98.
Resistance 3: 133.48 April peak.
Support 1: 129.80
Support 2: 129.26/08 – the 50 day sma and the top of the daily cloud.
Support 3: 124.08 December 2016 high and the 50% retracement at 123.40.
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