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  • EUR/JPY is trading in a bear trend below the 200-period simple moving average (SMA) on the 4-hour chart.
  • EUR/JPY is trading above the 128.00 level and  the 50 SMA just below the 100 SMA. Bulls are having the upper hand targeting 129.00. However, the market might be set for a small pullback to 128.00 before resuming higher.
  • A bear breakout below 127.61 (November 1 low) would be seen as a warning sign for bulls.  

EUR/JPY 4-hour chart

Resistance 1:    129.00 figure
Resistance 2:    129.50 figure
Resistance 3:    130.22 October 22 swing high

Support 1:      127.61 November 1 low
Support 2:      126.63 October low
Support 3:      126.00 figure

Additional key levels at a glance:

EUR/JPY

Overview:
       Last Price:  128.53
       Daily change:  78  pips
       Daily change:  0.611%
       Daily Open:  127.75
Trends:
       Daily SMA20:  129.18
       Daily SMA50:  129.96
       Daily SMA100:  129.44
       Daily SMA200:  130.45
Levels:
       Daily High:  128.56
       Daily Low:  127.66
       Weekly High:  130.22
       Weekly Low:  126.63
       Monthly High:  132.49
       Monthly Low:  126.63
       Daily Fibonacci 38.2%:  128
       Daily Fibonacci 61.8%:  128.22
       Daily Pivot Point S1:  127.42
       Daily Pivot Point S2:  127.08
       Daily Pivot Point S3:  126.51
       Daily Pivot Point R1:  128.33
       Daily Pivot Point R2:  128.9
       Daily Pivot Point R3:  129.24