Here is a trend analysis of the EUR/JPY on the larger time frames. The EUR/JPY chart below shows that this pair is trending down on the MN time frame. Current support level is at 126.00, the yellow line. Traders should set an audible price alert at this price for a sell. Below here you can check The Forex Heatmap® for EUR weakness or JPY strength or both to verify the sell. Below 126.00 this pair has substantial potential down to 100.00 to 109.00 support cluster. This is a very good chart setup for a long term trade.
Most or all of the JPY pairs are also in long term down trends right now, indicating across the board Japanese Yen JPY strength. This analysis of the EUR/JPY was done with multiple time frame analysis by individual currency, attached to a set of meta trader charts. These are 5/12 exponential moving averages.
EUR/JPY Trend Analysis