EURJPY tests key 200 day MA. Finds sellers near the level on the test.

MA comes in at 131.87 area

The EURJPY is up testing the 200 day MA at 131.865. The pair has not traded above the 200 day MA since the end of April. The EURJPY has been trending higher in July after an earlier dip. The pair has been up 7 of the last 8 trading days (today would be the 8th up day - the only down day was Friday and it was a small decline).

Will the key MA stall the run higher?

Drilling to the hourly chart below, the pair has been above the 100 hour MA since July 5th. That MA comes in at 131.274 (and rising). Before that the pair is above a trend line at 131.61. A move below that trend line would be needed to turn the tide a little to the downside. The 100 hour MA is more important.