EUR/JPY Technical Analysis: Recedes from tops around 133.00. Supported near 130.00

• EUR/JPY is prolonging its correction lower after testing recent tops beyond 133.00 the figure.
• While above the short-term support line, today at 129.97, a visit to the mid-133.00s should remain on the cards. If cleared, the next hurdle emerges at October 2017 tops at 134.51.
• Further downside is expected to meet initial contention at the 200-day SMA at 131.06 ahead of the 21-day SMA at 130.48.

EUR/JPY daily chart

Daily high: 132.69

Daily low: 131.57

Support Levels

S1: 131.96

S2: 131.64

S3: 131.05

Resistance Levels

R1: 132.87

R2: 133.46

R3: 133.78