Technical outlook and chart setups:
The EUR/JPY pair has dropped lower through the 133.00 levels until now, as expected and discussed earlier. The pair might have resumed its down leg with interim resistance around the 140.00 levels and should probably extend below 126.00 in the coming sessions. It is hence recommended to hold short positions, and bring down risk to break even levels. Immediate support is now seen at the 133.00 levels followed by 131.00 and lower, while resistance is seen at the 139.00 levels followed by 140.00/141.00 and higher, respectively.
Trading recommendations:
Remain short and move stop to break even levels, target is open.
Good luck!
