Technical outlook and chart setups:
1. The EUR/JPY pair is seen to be stalling out around the 139.00 levels for now, which is also the fibonacci 0.382 resistance levels. Recommendations are to remain flat for now and look to short around 139.20 levels; on rallies. Immediate possibilities are a dip towards 130.10/20 levels.
2. Support is seen at 137.70, followed by 136.20, 134.00 and lower, while resistance is seen at 140.00, followed by 141.00, 142.50/143.50 and higher respectively.
3. The structure indicates that EUR/JPY pair shall remain bearish till prices remain below the 140.00 level.
Trading recommendations:
Look to sell around 139.20 levels.
Good luck!
