EUR/JPY Technical Analysis: Euro bulls challenging the 130.00 handle after 350-pip bull-run

• EUR/JPY has been trading in a bull leg since October 26.
• EUR/JPY is now challenging the 200-period simple moving average (SMA) on the 4-hour chart and 130.22 (October 22 swing high).
• A break above the level can open the doors to 131.00 figure. Alternatively, to the downside support is seen near 129.50 and 129.00 figure.

EUR/JPY 4-hour chart

Resistance 1:    130.00 figure
Resistance 2:    131.00 figure
Resistance 3:    131.90 September 24 low

Support 1:      129.50 figure
Support 2:      129.00 figure
Support 3:      127.61 November 1 low
Support 4:      126.63 October low
Support 5:      126.00 figure

Additional key levels at a glance: