EUR/JPY Technical Analysis: Still targets the 200-day SMA at 131.11

• EUR/JPY is extending the bounce off Friday’s lows and is now resuming the upside with immediate target the 200-day SMA, today at 131.11.
• A surpass of the key 200-day SMA should pave the way for a continuation of the bull run to July’s tops in levels just above 132.00 the figure.
• On the downside, the 129.00/50 band should offer decent contention. This area is coincident with late July lows and the 21-day/55-day/10-day SMA.

EUR/JPY daily chart

Daily high: 130.72

Daily low: 130.10

Support Levels

S1: 129.90

S2: 129.55

S3: 128.94

Resistance Levels

R1: 130.87

R2: 131.48

R3: 131.83