EUR/JPY is up 2.22% this week after meeting strong resistance at 1 3.60. EUR/JPY Price Analysis: Consolidation in 130 pip area around 1 3.00 psychological barrier. EUR/JPY hit a fresh weekly high at 1 3.67 but reversed some of that gain, resting comfortably above Thursday’s high ahead of the weekend. Accordingly, EUR/JPY is changing hands at 1 3. 0 after falling to a low of 1 2.91. . EUR/JPY started the week around the 200-day exponential moving average (EMA) at 1 0.32 before rallying sharply to 1 2.38 on Tuesday. Since that day, EUR/JPY has stabilized between 1 2.35-1 3.65, unable to break either side of the range. On Friday, EUR/JPY broke the top of the range, but buyers unable to hold the rally sent the pair back on track. Therefore, the neutral bullish bias of EUR/JPY remains unchanged. If EUR/JPY breaks the top of the range, the next bid area is 1 .00. If EUR/JPY breaks, it could rise and test the five-month bearish resistance line by passing near 1 .50/60. This could push the tails of EUR/JPY to the psychological level of 1 5.00. On the other hand, EUR/JPY falls below 1 2.30 and the pair may try 1 2.00. A breach of the latter opens the door to a move lower to the 1 1.70/80 region, where the 20, 50 and 100 day EMAs are in range, followed by a drop to the 200* day EMA at 1 0. .