The EUR/JPY exchange rate is often fluctuating. The EUR/JPY exchange rate has just dipped below 130.00, testing support. A supply zone may be seen on the EURJPY chart. From where we sit, the price will drop to the next level of support.
The support rests at 129.80 with resistance at 130.00 which the Pivot Point at 129.87 is located above the price line. The EMA of 10 is moving in bearish bias in the descendant channel and it is going to reach the EMA of 100 and the EMA of 200. The RSI is moving toward oversold area, the MACD histogram is in negative territory. The Stochastic is moving in low ranges and the ADX is showing a downward momentum.
The price is inside the Ichimoku Cloud and the Chinkou Span far away the market price. Both Tenkan-sen and Kijun-sen are showing an upward momentum with a horizontal state.

• There is resistance at 130.00, followed by resistance at 130.07 and 130.20.
• There is support at 129.80 Below, there is 129.67 and 129.60.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.