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EUR/JPY is currently trading at 126.28, representing marginal gains on the day, having created a doji candle on Friday, signaling indecision in the market place.  

Notably, doji has appeared after a four-day winning streak. So, that candle largely represents bullish indecision. The cross, therefore, could see a downside break of the sideways channel established on the hourly chart in the second half of the last week.  

A range breakdown, if confirmed, would allow a drop to 125.73 (200-hour moving average).  

Hourly chart

Trend: Bearish


       Today Last Price:  126.28
       Today Daily change:  4  pips
       Today Daily change %:  0.03
       Today Daily Open:  126.25
       Daily SMA20:  125.9
       Daily SMA50:  125.2
       Daily SMA100:  126.53
       Daily SMA200:  128.01
       Previous Daily High:  126.58
       Previous Daily Low:  126.12
       Previous Weekly High:  126.58
       Previous Weekly Low:  124.48
       Previous Monthly High:  126.92
       Previous Monthly Low:  124.16
       Daily Fibonacci 38.2%:  126.29
       Daily Fibonacci 61.8%:  126.4
       Daily Pivot Point S1:  126.05
       Daily Pivot Point S2:  125.85
       Daily Pivot Point S3:  125.58
       Daily Pivot Point R1:  126.52
       Daily Pivot Point R2:  126.78
       Daily Pivot Point R3:  126.98