EUR/JPY Is Testing the Support at 128.45

EUR/JPY reached a high at 130.76 and after bouncing off from it the pair started falling, but looking at the daily time-frame the biggest question that emerges is whether the pair will continue moving to the downside, as it has formed a very clear doji candlestick at the support at 128.45. Currently the consolidation above that level, which coincides with the (MA)89 indicator on the four time-frame, continues. Should the pair break out below the aforementioned support at 128.45 there will likely be a further move to the downside towards the next support level at 127.50. On the other hand, if it bounces off from it EUR/JPY will probably test the previous high at 130.76 once again.