EUR/JPY Technical Analysis: Rebounds from support line. Scope for a visit to 132.00

• The cross is up for the third session in a row on Wednesday, prolonging at the same time the recent test of lows in the 129.00 neighbourhood.
• EURJPY met support in the 129.00/28 band, where converge the top of the daily cloud. The 55-day SMA and the short-term support line off May’s low.
• While above this area, there is still scope for a potential re-visit to the vicinity of 132.00 the figure, where is located the key 200-day SMA.

EUR/JPY daily chart

Daily high: 131.12

Daily low: 130.55

Support Levels

S1: 129.93

S2: 129.08

S3: 128.47

Resistance Levels

R1: 131.40

R2: 132.02

R3: 132.87