Technical outlook and chart setups:
1. The EUR/JPY pair breaks counter trend, support line as seen here. Still it is required to break below138.50 to accelerate further downside. Aggressive short positions can be held, risk remains at 144.00 levels for now.
2. Immediate intermediary support is at 138.50, followed by 136.00, 134.00 and lower, while resistances are spread through 144.00 and 145.50 respectively.
3. The structure reveals that till the time prices remain below 144.00, bears shall remain in control. Furthermore the trend line should now provide resistance for any counter rallies.
Trading recommendations:
Short positions can be held, stop is at 144.00, target is at 130.00
Good luck!
