After forming a lower top at 134.57 on last Dec. 4, EUR/JPY started to set back again, before watching increasing of the downside momentum significantly this week by breaking of 130 psychological level which opened the door for breaking 129.65 supporting level which could prop up this pair on last Nov. 27, before residing now for trading near 127.50
The severe slide lead its daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility to have now its main line in the oversold region below 20 reading 10.143 and also its signal line which is reading 13.521.
Important levels: Daily MA50 @ 131.84, Daily MA100 @ 133.57 and Daily MA200 @ 134.30
S&R:
S1: 126.07
S2: 124.89
S3: 119.09
R1: 129.46
R2: 132.78
R3: 134.57