EUR/JPY Price Analysis: Decent support emerged around 131.00/130.80

EUR/JPY manages to bounce off the 130.80 region on Friday.
The 100-day SMA awaits around the 130.40 zone.

Pablo Piovano FXStreet

EUR/JPY so far manages to regain some composure and rebounds from earlier multi-week lows in the 130.80 region.

The continuation of the downside is seen re-visiting the minor support at the 100-day SMA around 130.40 ahead of the psychological barrier at 130.00. Further south, albeit not favoured for the time being, comes in the April lows in the 129.60 zone.

In the broader picture, while above the 200-day SMA at 127.58 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	131.26
Today Daily Change	63
Today Daily Change %	0.02
Today daily open	131.23

Trends
Daily SMA20	133.25
Daily SMA50	132.12
Daily SMA100	130.39
Daily SMA200	127.61

Levels
Previous Daily High	132.88
Previous Daily Low	131.02
Previous Weekly High	133.76
Previous Weekly Low	132.66
Previous Monthly High	134.06
Previous Monthly Low	130.98
Daily Fibonacci 38.2%	131.73
Daily Fibonacci 61.8%	132.17
Daily Pivot Point S1	130.54
Daily Pivot Point S2	129.86
Daily Pivot Point S3	128.69
Daily Pivot Point R1	132.4
Daily Pivot Point R2	133.56
Daily Pivot Point R3	134.25

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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