EUR/JPY Technical Analysis: Up move looks to test the resistance line ahead of the 200-day SMA
|- The upside momentum in the cross looks unabated so far this week, finding interim resistance in the 129.60 region, where sits the 100-day SMA.
- Positive sentiment around the single currency plus a bias towards the risk-associated complex could lift EUR/JPY beyond the psychological 130.00 handle and break above the 2018 resistance line, today around 130.55.
- If cleared, late July/early August peaks above 131.00 the figure should return to the horizon along with a potential visit to the 200-day SMA at 131.35.
EUR/JPY daily chart
Daily high: 129.70
Daily low: 128.79
Support Levels
S1: 128.63
S2: 127.97
S3: 127.57
Resistance Levels
R1: 129.69
R2: 130.09
R3: 130.75
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