200 day MA below
The EURJPY moved up to the 100 hour MA and trend line and backed off. Sellers are trying to keep a ceiling against the levels.
What about the downside?
This week, the price fell below the 200 day MA not once, not twice but three times with today being the most recent. That MA comes in at 130.93 today. If the sellers are to take control, get and stay below that MA level.
The «market» has defined the battle lines and we sit between the lines of defense.