EUR/JPY: tracking syia news, yen spikes, cross drops to test 200-D SMA

• Tracking Syria news, yen spikes, cross drops to test 200-D SMA.
• EUR/JPY: headed back to test 131.70?

EUR/JPY is up to meet the 50-hr SMA at 132.24 within a sideways consolidation between 131.80/60. Currently, EUR/JPY is trading at 132.21, up 0.10% on the day, having posted a daily high at 132.35 and low at 131.80. EUR/JPY has been capped with a bid in the yen as stocks tail off from session highs. There has been a report that US has targeted 8 sites in Syria and this is causing a flight to safety. 

CNBC: 

Defense Secretary James Mattis will meet with President Trump at the White House on Thursday afternoon to discuss options in Syria.
Trump says a decision will be made "fairly soon."
A source, who spoke on the condition of anonymity, told CNBC the U.S. was considering striking eight potential targets

EUR/JPY levels

On the correction, the cross is pressuring 132.17 area of potential support where the 20-D SMA falls in. The 50-D SMA is located just below there at 131.76.

"The recent low at 128.96 was accompanied by a large divergence of the daily RSI and we suspect that we have based there," analysts at Commerzbank argued, sighting that 132.43/47 as the current March high and Fibonacci retracement comes as a key resistance guarding the January low and February 21 highs at 133.05/09.