EUR/JPY Technical Analysis: Gains capped at 132.00. The 200-day SMA offers support

• The cross initial upside met strong resistance at the 132.00 neighbourhood, coincident with July’s peaks.
• After the initial up move, EUR/JPY has come under some downside pressure, although the area around the key 220-day SMA at 131.00 offered decent contention for the time being.
• This area of support is also reinforced by the 210-day SMA at 130.93 and the short-term support line, today at 130.65.
• Initially, the cross should regain the 132.00 area on a sustainable basis to allow a potential re-test of recent peaks above 133.00 the figure.

EUR/JPY daily chart

Daily high: 132.00

Daily low: 130.96

Support Levels

S1: 130.64

S2: 130.02

S3: 129.33

Resistance Levels

R1: 131.95

R2: 132.64

R3: 133.26