EURJPY surged after breaking the six-year trend (green line) and now testing the major long-term trend. The previous tops of this trend were all above the 200-month moving average. This time price is just below its moving average and there is great upside potential for big trends. The question will be, can EURJPY break this major trend? Long-term trends often hard to break and often get bull traps. The 130.12 – 130.34 zone can be followed rather than just the trend line. If broken above, EURJPY may continue its upward move to 137 resistance in the medium-term.
