EUR/JPY Is Climbing

The US change in the nonfarm payrolls pushed EUR/USD down and the pair broke below the support at  128.25, but the pair could not break below 128.07 and bounced off that level. From this point on I see two possible scenarios: either the pair will move to the downside again, breaking below 128.07 and eventually reaching the support at 127.90 which is visible on the daily filter chart, or it will continue climbing towards the resistance at 128.90. The overall trend is still bearish, however, so even if the pair moves to the upside that will likely be only temporary.