EUR/JPY Technical Analysis: A break above the 200-day SMA allows a visit to 132.00 and above

The has cross extended the upside to the 131.50 rgion earlier in the session, surpassing the key 200-day SMA, although losing some upside momentum afterwards.
Today’s price action opens the door for a potential re-visit of the key July’s tops just beyond 132.00 the figure in the near term, always against the backdrop of the better tone in the risk-associated universe.
Furthermore, the cross should keep the positive outlook while above the short-term support line, today at 128.82.

Pablo Piovano FXStreet

EUR/JPY daily chart

Daily high: 131.49

Daily low: 130.30

Support Levels

S1: 130.18

S2: 129.66

S3: 129.22

Resistance Levels

R1: 131.15

R2: 131.59

R3: 132.11

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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