Technical outlook and chart setups:
The EUR/JPY pair continues to drift lower, the first expected support could be the 144.30/143.80 region. Please note that fibonacci 0.382 support is at 143.80 levels where a bullish bounce could be expected. Immediate support is seen at 143.80 (fibonacci), followed by 142.00 and lower while resistance is seen at 147.00, followed by 148.00, and 149.80 respectively. It is recommended to remain flat for now and look to buy at lower levels. Bears could also remain in control till 142.00 levels which is the fibonacci 0.50 support level of the rally from 134.00 levels to 149.80 levels as depicted here.
Trading recommendations:
Remain flat for now. Looking to buy lower.
Good luck!
