Technical outlook and chart setups:
1. The EUR/JPY pair pushes close to 138.00 levels as seen here. Please note that this region is past support turned resistance zone and a bearish reaction/pullback could be expected. However, the 138.20 levels could be optimum to go short again.
2. Support is seen at 136.40/50 (interim), followed by 136.10/20, 134.00 and lower, while resistance is seen at 138.50, followed by 139.30, 140.00 and higher respectively.
3. The structure indicates that EUR/JPY could continue drifting lower after hitting 138.20 levels though.
Trading recommendations:
Remain flat for now. Look to sell higher.
Good luck!
