The Japanese Yen (JPY) has been reeling across the board in the past couple of weeks. The EUR/JPY has been bullish despite a euro that was weak against the USD and against the GBP. Also EUR/JPY looks like it is making a bullish reversal.EUR/JPY Daily Chart 11/24(click to enlarge)Bottoming:- The daily chart shows that price action was bearish heading into June.- Then price consolidated in a range from July through October.- The bullish breakout came in November and is still running.Breakout:- As we can see in the daily chart, price has pushed above the 200-, 100-, and 50-day simple moving averages (SMAs)- Also the RSI pushed above 70 for the first time since the downtrend. This reflects initiation of strong bullish momentum and is a sign of bullish reversal.- Furthermore, price is breaking above a falling trendline that goes back to August of 2015, from a high of 139.Resistance:- I think there might be sellers at 120. - However, if momentum extends the rally, I think the next key resistance is really at 122, which was a resistance pivot in June, and a support area from February through May..