EUR/JPY Technical Analysis: Pullback has room to extend to the support line around 129.30. Another test of 132.00 remains on the cards above it

Another day, another drop in EUR/JPY. The cross keeps fading the up move to the 132.00 neighbourhood seen in the first half of July, now opening the door to a test of the short-term support line in the 129.30 region.
Above 129.30, another visit to the 200-day SMA around 131.90 should not be ruled out.
In addition, the constructive bias appears supported as long as the cross trades above the daily cloud.

Pablo Piovano FXStreet

EUR/JPY daily chart

Daily high: 130.21

Daily low: 129.76

Support Levels

S1: 129.66

S2: 129.38

S3: 129.01

Resistance Levels

R1: 130.32

R2: 130.68

R3: 130.97

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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