EUR/JPY intraday: the downside prevails as long as 126.78 is resistance

EUR/JPY intraday: the downside prevails as long as 126.78 is resistance
Our pivot point is at 126.78.

Most likely scenario: the downside prevails as long as 126.78 is resistance.

Alternative scenario: the upside breakout of 126.78, would call for 127.14 and 127.36.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 126.61 and 126.63).

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