EUR/JPY was bearish entering 2016, but ended the year on a bullish breakout. Before May, much of 2017 was a consolidation and bearish correction. But by mid-April, it found support around 115.00, barely respecting the price bottom formed in 2016. The subsequent weeks confirmed the respect for support. 123.90 is a key resistance, and price cracked it and ended up closing around it Friday. I think there is still upside in the coming weeks.EUR/JPY Weekly Chart(click to enlarge)Bullish Reversal Signs:1) The market broke above a falling resistance, and then when it tested this falling resistance, the line became support.2) This establishes a higher low in 2017 than in 2016, a sign that a bullish trend could be developing.Next resistance:- There are however, some signs that bulls are not really in charge yet. 1) Price is still under the 200- and 100-week simple moving averages (SMAs). 2) The RSI never tagged 70, suggesting that the bullish momentum so far has been weak.- Given these concerns against a bullish outlook, we should limit the outlook to the 127-128 area for now, which involves an support/resistance pivot area.Support:- After three straight weeks of rally, it shouldn't be surprising if price retreats next week, especially as price tags the 100-week SMA.- In the daily chart, the RSI is above 70. So in the short-term, we might see a pullback.- If there is, we should monitor 120 for support.- Below that the 118 support/resistance pivot should be key. A break below 118 should is unlikely if EUR/JPY is indeed bullish.