EUR/JPY Technical Analysis: pullback has room to extend to the support line around 129.30. Another test of 132.00 remains on the cards above it.

• Another day, another drop in EUR/JPY. The cross keeps fading the up move to the 132.00 neighbourhood seen in the first half of July, now opening the door to a test of the short-term support line in the 129.30 region.
• Above 129.30, another visit to the 200-day SMA around 131.90 should not be ruled out.
• In addition, the constructive bias appears supported as long as the cross trades above the daily cloud.

EUR/JPY daily chart

Daily high: 130.21

Daily low: 129.76

Support Levels

S1: 129.66

S2: 129.38

S3: 129.01

Resistance Levels

R1: 130.32

R2: 130.68

R3: 130.97