EUR/JPY Technical Analysis: Door open for a test of 132.00 and above

EUR/JPY keeps trading on a positive note on Wednesday, extending the rally beyond 131.00 the figure and at the same time re-taking the key 200-day SMA.
The continuation of the bull run should allow for a test of July’s top just beyond the 132.00 milestone ahead of April’s high in the mid-133.00s.
In addition, the cross remains constructive as long as the short-term support line, today at 129.03, holds.

Pablo Piovano FXStreet

EUR/JPY daily chart

Daily high: 131.70

Daily low: 130.91

Support Levels

S1: 130.42

S2: 129.75

S3: 129.21

Resistance Levels

R1: 131.64

R2: 132.18

R3: 132.85

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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