Attached is a daily chart of EURJPY. Yesterday, it came down crashing due to the weakness in the JPY crosses and also the large weakness in the euro. But as you can see from the daily chart, there is big support at 125.6 and it will take a big effort to break this support.
If this support does get broken, then we should move down to 125 which is again a very big support even on larger TFs. If this support also does get broken, which i doubt it will, then we should start moving towards 122. This is a daily chart and so things will take a few days to happen.
On the upside, there should be resistance at 126.2 and then at 127. Finally, there should be strong resistance at 128. I expect ranging between 125 and 128 for a few days.
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