Reversal In EUR/JPY
Trading of the cross is still neutral. Breach of 130.33 resistance will argue restoration of the increase from 124.61 and mark short term reversal. In that case, trading will turn up on the upside to key resistance of 133.47 key resistance. Following pivot points include: (S1) 127.78; (P) 128.15; (R1) 128.50.
Breach of 126.63 will cause repeat test of 124.61 minimum.
A bearish divergence in daily MACD keeps persisting. Sustained breach of 124.08 will suggest reversal. The intact increase from 109.03 has finished at 137.49. Larger decline should align 61.8% retracement of 109.03 to 137.49 at 119.90 and lower. Choppy breach of 133.47 key resistance will resume the lift from 109.03 through the maximum of 137.49.