Technical outlook and chart setups:
The EUR/JPY pair faced initial resistance at 135.00. The pair is expected to drift lower/retrace towards at least 133.25. At the same time, there is still a probability that the pair will countinue to drop towards 130.00. It is recommended to take profit on long positions and remain flat for now. Immediate support is seen at 132.00 followed by 130.00 and lower, while resistance is seen at 136.00 followed by 137.00, 139.00, and higher respectively. The pair remains bearish until prices stay below 139.00.
Trading recommendations:
Exit long positions and remain flat.
Good luck!
