Technical outlook and chart setups:
1. The EUR/JPY pair is drifting sideways since a morning star was produced last week just ahead of 136.00/20 levels. The pair needs to clear 137.50 at least, to resume a meaningful retracement. Recommendations are to remain flat for now and await further directional confirmation.
2. Support is seen at 136.00/20 levels, followed by 134.00 and lower, while resistance is seen at 137.50, followed by 138.50, 139.30 and higher respectively.
3. The structure indicates that EUR/JPY remains sideways for now within the longer-term down trend. Selling higher would be a good strategy.
Trading recommendations:
Remain flat for now.
Good luck!
