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FxWirePro: EUR/JPY hit fresh 3-year lows at 121.71, finds strong support at 121.50, weakness only on break below

Monday, April 18, 2016 6:38 AM UTC

EUR/JPY hit fresh 3-year lows at 121.71 as yen strength across the board weighed heavily on the pair.
Momentum studies are heavily bearish. Weekly charts confirm further downside.
Pair finds strong support at 121.50 (trendline joining 126.09 and 122.06), break below could accentuate downside.
On the flipside, immediate resistance is located at 122 ahead of 122.92 (5-DMA).

Recommendation: Sell rallies around 122 levels, SL: 122.75, TP: 121.50/121.25/121

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FxWirePro: EUR/JPY hit fresh 3-year lows at 121.71, finds strong support at 121.50, weakness only on break below

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