EURJPY has given downside movement from lower level and sustaining below the same. Accumulation at lower level with negative biased is observed during last few daily session. It has been trading below the 100 SMA and 200 SMA as well. RSI has given downside break out from 40 mark but there will be sustaining from here.Down side it is facing support at 128.60 in medium term chart and any closing below the same will trigger a bearish momentum in it for today’s trading session.
In hourly chart we can see that EURJPY is taking resistance level at 129.20 and going downside from that level again & again . It means we can see further bearish trend in EURJPY. Also pair is taking resistance at moving averages and going down from that level. Bollinger Bands is also showing down trend for it.