Like many other pairs recently, the 100-day and 200-day moving averages have been very important for EUR/JPY. Since breaking cleanly above the 100-day on February 24th, EUR/JPY tested and failed at the 200-day on April 6th. We are now headed back towards the 100-day which comes in at 124.26 today. My momentum studies and stochastic measures all look very oversold so it might be worth building a long on a bounce off there.