EUR/JPY Technical Analysis: Upside capped by the 200-day SMA at 130.21

The recovery in the cross met strong resistance in the boundaries of the key 200-day SMA at 130.2, provoking failure and the ongoing knee-jerk after five consecutive daily advances.
Immediate target on the upside remains the 200-day SMA at 130.21. A sustainable breakout of this area should pave the way for a visit to late-August peaks around 130.90.
In order to reassert the upside pressure, EUR/JPY needs to break above the resistance line off YTD tops, today at 132.29.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview:
    Last Price: 129.74
    Daily change: -12 pips
    Daily change: -0.0924%
    Daily Open: 129.86
Trends:
    Daily SMA20: 128.91
    Daily SMA50: 129.91
    Daily SMA100: 129.49
    Daily SMA200: 130.29
Levels:
    Daily High: 130.16
    Daily Low: 129.39
    Weekly High: 129.34
    Weekly Low: 127.24
    Monthly High: 132.49
    Monthly Low: 126.63
    Daily Fibonacci 38.2%: 129.87
    Daily Fibonacci 61.8%: 129.69
    Daily Pivot Point S1: 129.45
    Daily Pivot Point S2: 129.03
    Daily Pivot Point S3: 128.67
    Daily Pivot Point R1: 130.22
    Daily Pivot Point R2: 130.58
    Daily Pivot Point R3: 130.99

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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