On the 4-hour chart, we clearly see that EUR/JPY has made a breakout and closed below the upward broadening channel. The pair gained brief downward momentum and now it is making a minor correction to test the previous resistance at 129.25. As long as the pair does not break out and closes above the 131.35, the price will continue to go down again and will test the nearest support level at 125.50.
(Disclaimer)
