• EUR/JPY slipped below the 130 handle on Friday's trade, hit a fresh 7-month low at 129.67, but has currently pared some losses on the day to currently trade at 129.94
  
  
• The pair continues to see successively lower retracement highs, 130.10 high today, likely cap for now, hourly cloud above between 130.05-25
  
  
• 100 and 200 SMAs show bearish crossover around 135.20 for the first time since mid August, further confirming the risk towards the downside
  
  
• Daily RSI is probing its most oversold reading since the September and Stochs are also in highly overbought zone, so some caution advised as pair might see some unwinding
  
  
• Immediate resistance is located at 130.16 (5 DMA) ahead of 130.25 (Daily High Nov 27), while supports are seen at 129.67 (Nov 27 low) and further below at 129.63 (76.4% Fibo 126.08-141.06)

Recommendation: Good to sell rallies around 130 levels, SL: 130.60, TP1: 129.30, TP2: 129

Resistance Levels:

R1: 130.16 (5 DMA) 

R2: 130.25 (Daily High Nov 27)

R3: 130.35 (Daily High Nov 26)

Support Levels:

S1: 129.67 (Nov 27 low)

S2: 129.63 (76.4% Fibo 126.08-141.06)

S3: 129.39 (Daily Low Apr 28)