EUR/JPY Technical Analysis: bullish MAs cross-over suggests additional gains

   •  Retreats from an ascending trend-line resistance, forming a part of a bearish rising wedge chart pattern on the 1-hourly chart.
   •  Bullish moving averages cross-over suggests dip buying to emerge at lower levels. 
   •  Break below an ascending trend-line, the bearish pattern, might continue to find support near mid-127.00s.

EUR/JPY 1-hourly chart

Spot Rate: 127.96
Daily High: 128.40
Daily Low: 127.58
Trend: Bullish

Resistance
R1:  128.40 (session top)
R2: 128.21 (R1 daily pivot-point)
R3: 128.54 (May 28th high)

Support
S1: 127.84 (ascending trend-line support)
S2: 127.58 (daily low and 50-hour SMA H1)
S3: 127.18 (S1 daily pivot-point)