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EUR/JPY Technical Analysis: Bullish attempts should face initial hurdle at the 200-day SMA at 130.75

EUR/JPY continues to trade in an erratic fashion so far this week, finding support in the 129.00 neighbourhood and with gains capped around the 200-day SMA, today at 130.75.
A surpass of the 200-day SMA should open the door for a potential visit to the 21-day SMA just above 131.00 the figure.
Further north, the cross needs to advance beyond the resistance line at 132.73 to allow for, initially, a test of September’s peaks beyond the 133.00 handle ahead of October 2017 tops in the mid-134.00s.
However, as long as the resistance line above 132.70 caps the upside, a resumption of the downtrend should not be ruled out.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Last Price: 129.66
    Daily change: -26 pips
    Daily change: -0.200%
    Daily Open: 129.92
Trends:
    Daily SMA20: 131.13
    Daily SMA50: 129.62
    Daily SMA100: 129.47
    Daily SMA200: 130.81
Levels:
    Daily High: 130.32
    Daily Low: 129.41
    Weekly High: 131.26
    Weekly Low: 129.21
    Monthly High: 133.15
    Monthly Low: 129.21
    Daily Fibonacci 38.2%: 129.97
    Daily Fibonacci 61.8%: 129.76
    Daily Pivot Point S1: 129.45
    Daily Pivot Point S2: 128.98
    Daily Pivot Point S3: 128.55
    Daily Pivot Point R1: 130.36
    Daily Pivot Point R2: 130.79
    Daily Pivot Point R3: 131.26

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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