Technical outlook and chart setups:
1. The EUR/JPY pair seems to be pulling back before giving it up to bears again. The 142.00 region is also back side of the counter uptrend line, that is acting as resistance now. It is recommended to remain short for now and also look to add further short positions around 142.00/20 levels.
2. Immediate resistance is at 144.00, followed by 145.50, while supports are spread through 138.50/136.00, followed by 134.00, 132.00 and lower respectively.
3. The structure indicates that EUR/JPY should be heading lower till 144.00 levels remain intact. A reversal here should drag prices lower towards 132.00 and 130.00 levels at least.
Trading recommendations:
Remain short for now. Stop is at 144.00, target is open.
Good luck!
