EurJpy - weekly channel resistance

Forgot to add, USDJPY looks like it's still got legs but is approaching resistance at 8060 so maybe a clearer trade? dl.dropbox.com/u/20815047/USDJPYdaily25_10_12.gif

Looks OK on the daily chart too, GC: dl.dropbox.com/u/20815047/EURJPYdaily25_10_12.gif

Stop would probably have to be outside 104.595 recent high. Will be interesting to see how it goes as it doesn't seem to have sharply reversed from that level.

Posted a chart a long time ago with a target resistance on the weekly - it has now struck that, and looks to be weakening by my reckoning






Shorter term view - 1HR




Certainly looks to be topping on the 1HR timeframe too.
Nice divergence and trendline correspondence on the RSI - in line with the bigger timeframe resistance.