Although they've been like tissue paper of late, the barriers are something to watch
While EURJPY has dropped through the barrier levels, they have held the price up on a first test.
Mike's noted the one at 123.00 and there's more at 122.00, 121.50 and 121.00. The are accompanied by the usual large bids and stops. There are also said to be some big stops in the 121.80/90 area.
Having a quick look at the weekly chart we have a virtually clear run to the 50.0 fib of the 2012 jump at 121.94.
EURJPY weekly chart
The area around 119-118.55 would be where I would look for the next support but it's not overly strong.
The 128.50 level is where the strongest resistance is likely sitting, but the big figures leading up to it will also play there part.
