EUR/JPY Technical Analysis: Rebounds from 128.00, could re-visit 129.00 and above

• After testing lows in the 128.00 neighbourhood, EUR/JPY is now seeing a moderate bounce along with a better tone in the risk-associated complex in detriment of the safe haven currencies.
• Immediate target to the upside remains the key 55-day SMA at 129.12, coincident with late-July’s peaks.
• Further up, the 61.8% Fibo retracement of the July-August drop aligns at 129.29 ahead of the 100-day SMA, today ay 129.32.

EUR/JPY daily chart

Daily high: 128.88

Daily low: 127.86

Support Levels

S1: 127.80

S2: 127.36

S3: 126.69

Resistance Levels

R1: 128.91

R2: 129.57

R3: 130.01