EURJPY short view

Looking at the chart on the quadruple time frame, we see that the pair fails to stay above 130.50 and makes a pullback, looking for better support. Looking at the moving averages, we see that the MA20 and EMA20 are on the bearish side while we are now testing the MA50 at the psychological level at 130.00. The break below leads us to moving averages MA200 and EMA200 in the zone around 129.00-129.50, another break below leads us to the previous low at 128.50. The MACD indicator tells us that the Euro is slowly losing strength. The blue MACD line has made a break below the signal line, making red histograms on the indicator, which is a sign that bearish is increasingly impacting this chart.