EUR/JPY technical analysis: capped by the 200-D SMA, 129 to hold on dips

• EUR/JPY has been on the defensive for the past week, capped by the 200-D SMA but supported by the 50-D SMA.
• EUR/JPY is in a neutral position with RSI directionless on the daily sticks. 

Spot rate:              129.94.
  
High:                     130.02 (Asia).
Low:                      129.93 (Asia).

Trend:                   Neutral.

Resistance 1:       130.36 (recent highs), 100-D SMA 130.16/10-D SMA 130.20.
Resistance 2:       200 day sma and recent high at 131.78/98.
Resistance 3:       133.48 April peak.

Support 1:            129.80  
Support 2:            129.26/08 – the 50 day sma and the top of the daily cloud.
Support 3:            124.08 December 2016 high and the 50% retracement at 123.40.