The euro currency is on the rise against the Japanese yen after the pair found strong buying interest from the 131.40 price area. The four-hour time frame shows that the EURJPY pair is currently trapped inside a large descending triangle pattern, between the 131.25 and 132.25 levels. As sellers cannot break under the triangle a coming test towards the top of the triangle seems likely.
If the EURJPY pair trades below the 131.40, sellers may test the 131.25 and 130.50 support levels.
EURJPY pair is only bullish while trading above the 131.40 level, key resistance is found at the 132.25 and the 133.15 levels
