The support of area 126-127 could push the EURJPY higher in the short term up to the 128.5-129.5 area. In this case to me it would be a great sell as I believe that EURJPY will go to 125 as for EUR we have Draghi and his QE while on the Japanese part we have had hawkish remark this week stating that YEN is undervalued.
All in all I would wait for a rally into 129 to start sell again.
All in all I would wait for a rally into 129 to start sell again.