EUR/JPY Technical Analysis: Euro weakening en route to 126.10 level

EUR/JPY daily chart

• EUR/JPY is in a consolidation above the 50 and 100 simple moving averages (SMAs).

EUR/JPY 4-hour chart

• EUR/JPY is trading above its main SMAs suggesting a bullish bias in the medium-term.

EUR/JPY 30-minute chart

• The market is trading below its 50 and 100 SMAs suggesting a consolidation in the short-term.
• Key supports are at 126.10 and 125.75 level.
• On the way up, initial resistance is seen at 126.50 and 126.80 level.

Additional key levels