Technical analysis
The price lies below EMA(50) and EMA (100)
The EMA(100) is higher than EMA (50), which is favourable for bears
The MACD is below 0, with the signal line pointing down to indicate a sell signal
The RSI is below 30, which predicts a decline.
What the possible outcomes are
EURJPY is bearish on the one-hour chart. Today may be another favourable period for the sellers, they gained more pressure, and the price pushed down towards the first support level of 129.823. Beneath lies the second support level of 129.596. If bulls defend the support level of 129.823, the price may reverse towards the resistance level of 130.859. A breakout of that level can push the price higher towards 131.420.
Key levels
Support 129.823 129.596
Resistance 130.859 131.420
