The EURJPY found sellers against it’s 200 hour MA at the 102.14 level currently. On the way the price has tracked above the 100 and 200 bar MAs on the 5 minute chart. There are a number of parellel trend channels over the move higher (see 5 minute chart below).
The 100 bar MA on the 5 minute chart below comes in at the 101.81 level. The 200 bar and upward sloging trend line comes in at the 101.678 level. Moves below these levels should open the door for further downside momentum.
