Topside target between 126.049 to 126.133.
The EURJPY is up testing a topside resistance target at 126.049 to 126.133. That area is home to a number of swing levels going back to August 17 (see red numbered circles).
Sellers have another reason to lean against the resistance level with limited risk. Look for stops, however on a break of the area.
On the downside, the 61.8% and 50% at 125.86 and 125.59 are now support.
The pair yesterday based at the 100 hour MA (blue line). Today, that MA was broken first in the early in the North American session and again after Fed's Powell started to talk. However, the moves did not stick. The last 4 hours has seen higher prices on each bar.
Now comes the test.
