EUR/JPY's double-top crackable, headed for 129.55/130.71 50% retracement?

Currently, EUR/JPY is trading at 127.18, up 1.69% on the day, having posted a daily high at 127.46 and low at 124.74.

EUR/JPY has made a double top on the 5 min chart, bouncing off 126.98/00 recent lows. EUR/JPY rallied from 124.73 and Draghi's optimism added fuel to the fire whereby USD/JPY had already rallied a cent.

ECB's Draghi: ECB could look through transitory inflation weakness - Bloomberg

Draghi who told an ECB symposium that “while there are still factors that are weighing on the path of inflation, at present they are mainly temporary factors that typically the central bank can look through,” noted Boris Korby and Greg Chang at Bloomberg who suggested that traders took these remarks from Draghi the potential for the start of the removal of some of the central bank’s stimulus. 

EUR/JPY levels

EUR/JPY is positive and continues to hold extremely well at 122.56/40, the 18th May low and the recent low, ahead of here lies the 123.80 2 month support line, as noted by analysts at Commerzbank.  "Above the 125.81 recent high will target the 2016-2017 channel at 127.65. Beyond this the market looks set for further gains towards the 129.55/130.71 50% retracement and the 200 week ma. Where are we wrong near term? Below 122.40 and we should see losses extend to the 120.00 200 day ma. We suspect that it will attempt to stabilise in this vicinity."