EURJPY : 4 Hour Chart EURJPY confirms the bullish trend on the 4 hour chart, breaking out from the ascending triangle trend. However on the other hand the 50 day SMA is contracting towards the 200 day SMA signaling a downtrend. So the gains seems limited to me and therefore the pair might decline from the nearest resistance at 147.13 or from 100 day SMA. EURJPY : Daily Chart On the daily chart, the pair is testing the resistance trend line and most probably will decline from this trend line. Overall the trend seems bearish if it fails to hold gains above the falling resistance trend line and should therefore decline below the key support at 145.54. However on the other hand the moving average pattern is such that it is signaling an uptrend continuation. Let’s see if the pair is able to hold gains above the resistance trend line or not.