Яндекс.Метрика EURJPY traders keep the 129.10-20 area as a topside resistance area ⋆ Technologies of the future for life!
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EURJPY traders keep the 129.10-20 area as a topside resistance area


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Above that area is the 100 day MA

When I look at the EURJPY hourly chart, what sticks out is the 129.10-206 area. Going back to October 15, the price has moved above and below that level, but the area has a number of swing levels in that range.  

The most recent move above the MA came on Friday when there were three shots to head above the level and push higher toward another key upside level at the 100 day MA at 129.414. However, each of those tries above 129.206 failed. 
Today, the price has tested the lower end of the 129.10-20 area, only to have sellers leaning against the area for the 11th and 12th time. 
If the price is to go higher from here, the 129.10-20 is a key area to get and stay above.  On a break, the 100 day MA at 129.414 will be eyed.  
Holding the area, and a move below the 128.88-91 will be eyed. That area is home to the 100 and 200 bar MA on the 5-minute chart. 
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