EUR/JPY Technical Analysis: Regains the 129.00 area. Looks to re-test the 200-day SMA at 131.36

• EUR/JPY is extending the weekly recovery and has now retaken the critical 129.00 the figure and above, allowing a continuation of the rally with immediate target at the 200-day SMA, today at 131.36.
• However, the psychological 130.00 handle is poised to offer interim resistance, while the base of the daily cloud around that level also reinforces this up barrier.
• If cleared on a convincing fashion, July tops just beyond 132.00 the figure should come to the fore.

EUR/JPY daily chart

Daily high: 129.25

Daily low: 128.36

Support Levels

S1: 127.98

S2: 127.52

S3: 127.11

Resistance Levels

R1: 128.85

R2: 129.25

R3: 129.71