EUR/JPY Technical Analysis: Euro facing some resistance at 129.00 figure

• EUR/JPY traded below the 129.00 figure on Wednesday. Failure to break above 129.00 can lead to a bear move towards 128.41, July 2 low and 128.00 figure.
• EUR/JPY tried to break above 129.50 twice this week but without being able to break the level to the upside.  
• EUR/JPY might see some selling interest if bear can break below the bull trendline (blue line).

EUR/JPY 15-minute chart  

Spot rate:                   128.77
Relative change:         -0.1%      
High:                          128.98
Low:                           128.49

Trend:                         Bearish below 129.00

Resistance 1:            129.00 figure
Resistance 2:            129.50 figure/supply level
Resistance 3:            130.32 June’s high

Support 1:                 128.41 July 2 low
Support 2:                 128.00 figure
Support 2:                 127.41 June 2 low
Support 3:                 126.99 June 21 low
Support 4:                 126.64 June 19 low