EUR/JPY - Monitoring The Short-Term Declining Trend-Line
EUR/JPY is setting lower highs and is now monitoring the short term declining trend-line at around 134.38. Hourly resistance can be found at 134.51 (26/05/2015 high) and hourly support is given at 133.11 (05/05/2015 low)
In the longer term, the break of the support at 130.15 validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Key supports stand at 124.97 (13/06/2013 low) and 118.73 (25/02/2013 low). A key resistance can be found at 136.70 (11/02/2015 high).