Technical outlook and chart setups:
1. The EUR/JPY pair is expected to react around the 139.20 region as shown here. Recommendations are to initiate short positions then. The pair is seen retracing at the moment.
2. Support is around 137.50/60 (interim), followed by 136.50, 134.00 and lower while resistance is seen at 140.00, 141.00, 142.50 and higher up respectively.
3. The structure indicates that EUR/JPY should remain in control of bears till prices remain below 140.00 levels.
Trading recommendations:
Remain flat for now. Look to sell higher.
Good luck!
