200 bar MA on the 4-hour chart and highs from earlier in the week are being tested
The EURJPY is trading to new session highs, and in the process is testing the 200 bar MA on the 4-hour chart along with the swing highs from earlier in the week (see yellow area). The levels should give sellers a cause for pause on the test.
On the downside, the pair now has support at the 100 hour MA at 125.276. If the upside target does stall the rise, traders will focus on the lower 100 hour MA to provide support.
A move above the aforementioned resistance will have traders targeting the 100 day MA at 125.875. An upper trend line is also in that area.
