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- 5-DMA is capping upside in EUR/JPY, intraday bias lower.
- The pair has broken below 50-DMA, Technicals on daily charts support downside.
- We see scope for test of 112 (major trendline support).
- Major support levels - 112.59 (30th Sept low), 112.08 (Sept 21,22), 111.90 (trendline)
- Major resistance levels - 113.67 (5-DMA), 114, 114.15 (50-DMA)
Recommendation: Good to sell rallies around 113.20, SL: 113.70, TP: 112.60/ 112.10/112
