EUR/JPY Technical Analysis: A test of July’s tops beyond 132.00 gains further traction

• The cross is prolonging the march higher today, adding to Thursday’s strong advance to the boundaries of 131.00 the figure on the back of the persistent improved tone in the risk-associated complex.
• EUR/JPY is already flirting with the 200-day SMA near 131.15 and opens the door for the continuation of the up move to. Initially, July’s tops just beyond the 132.00 milestone.
• If the upside impulse gathers extra steam, April’s top at 133.52 should emerge on the horizon.

EUR/JPY daily chart

Daily high: 131.13

Daily low: 130.70

Support Levels

S1: 129.74

S2: 128.63

S3: 128.01

Resistance Levels

R1: 131.48

R2: 132.10

R3: 133.21