EURJPY is still testing the 13-year long trend line. As we talked about in our previous post, EURJPY is testing this line for three months. If the price is able to hold above this long-term resistance, a months-long uptrend may start. But until that happens, up moves still be used as selling opportunities.
For shorter-term, 130.75 and 128.70 will be the key support and resistance levels to watch. Above 130.75 bullish pressures may rise and the long-term trend may break. But below 128.70, if it happens, may be dangerous for EURJPY bulls.
