EUR/JPY is moving in a very dynamic way since mid-April. The weekly chart shows that downward trend has begun to break down as early as mid 2016. Since then, the price has been moving in a upward trend, but it is only now being confirmed on a wider scale. After breaking out of the trend line, we have additionally breaking the last top of bearish trend in weekly scale. So it seems that the prospect for the near future remains bullish.
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Looking for opportunities to join the trend, you may be interested in the H1 chart. There is strong resistance breakout and a correction that is currently under-way, which indicates the weakness of the supply so far. If this is the case then the drops should not be too deep and buy signal can be found already in support zone 124.40-50.
