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- Major support - 128 (200 day W MA)
- Major resistance -129.35
- EUR/JPY hits fresh 9 month low on account of global equities sell -off pair has broken major support 128 and declined till 127.31. It is currently trading at 127.42.
- The market awaits major US economic data and FOMC Minutes meeting for further strength in US dollar which in turn affects EUR/JPY movement.
- Any break below 128 confirms minor trend reversals a decline till 126/125 is possible.
- On the higher side minor resistance is around 128.40 and break above targets 129.35/129.85.
- Overall trend reversal only above 130.
It is good to sell on rallies around 128-128.10 with SL around 129.35 for the TP of 126/125
