100 hour MA a1 128.868
The EURJPY is moving lower after testing a topside trend line at the day highs and falling off.
The price has been trending since August 15th. The move has been above the 100 hour MA since August 17th. That MA is being tested now at 128.868. A close below would be more bearish.
Today, the swing high from Tuesday was tested and then broken at 130.257 (higher risk level). A trend line at 130.00 was also broken. That is closer risk now for shorts looking for more corrective action. With the sharp trend rise, there may be some profit taking/selling temptation.
A key level on more selling comes in at the 100 day mA at 129.533 currently. That MA was tested on Monday and backed off before moving above later in the day. The MA was tested yesterday and bounced. A move below would be more bearish, but be aware of a fight on the test.
