EUR/JPY Technical Analysis: The cross tests the key short-term support line near 130.50

• EUR/JPY is prolonging the downside for yet another session on Tuesday, coming down to test the critical 200-day SMA and below albeit recovering some ground afterwards.
• A drop below the 200-day SMA on a sustainable note could accelerate losses to the short-term support line, initially, at 130.48.
• Further south, the 55-day SMA and the 100-day SMA should offer some additional contention at 129.61 and 129.36, respectively.
• On the flip side, the initial hurdle aligns at the 10-day SMA, at 132.09.

EUR/JPY daily chart

Daily high: 132.02

Daily low: 130.71

Support Levels

S1: 131.60

S2: 131.29

S3: 130.85

Resistance Levels

R1: 132.34

R2: 132.79

R3: 133.09