EUR/JPY Technical Analysis: A test of 133.50 stays on the cards

The cross is extending the recent breakout of the critical 200-day SMA at 131.10, trading well above the 132.00 handle although below Friday’s tops just beyond 133.00 the figure.
The recent up move has retaken the 133.00 handle and above at the end of last week, although sellers showed up afterwards.
Still on the upside, the next target is now April’s top at 133.53. If momentum picks up further pace, YTD top at 137.53 (February 2) should be back on the radar.
The constructive view remains in place as long as the short-term support line, today at 129.58, underpins.

Pablo Piovano FXStreet

EUR/JPY daily chart

Daily high: 132.69

Daily low: 131.90

Support Levels

S1: 131.92

S2: 131.54

S3: 130.93

Resistance Levels

R1: 132.91

R2: 133.52

R3: 133.90

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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