EUR/JPY Technical Analysis: sidelined near term. Another attempt to 132.00 remains on the cards.

• The cross is now attempting some consolidation after the recent rejection from the key 200-day SMA in the 131.90 region.
• The positive prospects for the cross remains well and sound, as it keeps trading above the daily cloud.
• Another move to re-test the 132.00 neighbourhood stays alive as long as the cloud and the short-term support line (today at 129.00) continue to underpin.
• In addition, the daily RSI reads 59, while the ADX at 18 notes the weak momentum behind the trend.

EUR/JPY daily chart

Daily high: 131.23

Daily low: 130.59

Support Levels

S1: 130.64

S2: 130.32

S3: 129.92

Resistance Levels

R1: 131.37

R2: 131.78

R3: 132.10