EUR/JPY Technical Analysis: Initial support emerges at the 55-day SMA above the 129.00 handle

• The cross is reverting part of yesterday’s advance, although it manages well to keep the trade above the 55-day SMA, today at 129.13.
• Extra gains need to surpass June’s peaks in the mid-130.00s ahead of late-August’s peaks in the boundaries of 130.90.
• In case the upside impulse persists, the 200-day SMA at 131.23 should be back to the radar ahead of July’s top just beyond 132.00 the figure.

EUR/JPY daily chart

Daily high: 129.86

Daily low: 129.29

Support Levels

S1: 128.87

S2: 128.03

S3: 127.47

Resistance Levels

R1: 130.28

R2: 130.84

R3: 131.68