The EUR/JPY could find support in the next few hours

The EUR/JPY is about to play the bullish trend line, where it could find support.

The EURJPY has been strengthening its current bearish trend on the daily chart, but we must be alert to a possible rebound bullish trend line on there near the current price of this pair. In case of the bullish rebound, the EURJPY could rise to the resistance at 132.75 level. If the pair manages to break that level, it is expected to rise to the level of 135.38 in the medium term. On the other hand, if the pair manages to break the bullish trend line, would be expected to fall to support at 130.72 level.

The MACD indicator remains in negative territory and EURJPY remains above the 200 day moving average.

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