EUR/JPY Technical Analysis: Upside bias remains above 130.33

• EUR/JPY has bounced off recent lows in the boundaries of the key 200-day SMA at 131.04 and has now regained the 132.00 handle and above.
• The recent move higher met strong resistance just above 133.00 the figure in past sessions although it later corrected lower following the selling pressure in the European currency.
• Immediate hurdle remains the April’s highs in the mid-133.00s ahead of 134.77 (78.6% Fibo retracement of the 2018 drop)
• The constructive view remains in place as long as the short-term support line, today at 130.33, holds.

EUR/JPY daily chart

Daily high: 132.33

Daily low: 131.90

Support Levels

S1: 131.30

S2: 130.66

S3: 130.15

Resistance Levels

R1: 132.45

R2: 132.96

R3: 133.60