EUR/JPY Technical Analysis: Bulls testing bear commitments at 4-month trendline resistance

The price has pierced the 4-month resistance line at 125.73 and is testing territory on the 126 handle.
A break of the 25th Oct fractal low at 126.63 opens risk to the 50% Fibo retracement level at 128.10 and confluence of the 200- SMA at 128.13.
Supply to back the said resistance, bears can target a break to the near term up trend at 124.45.

EUR/JPY daily chart

Feb 26, 2019

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