Chart - Courtesy Trading View
Technical Analysis:
- EUR/JPY was trading 0.80% lower on the day at 138.61 at around 10:30 GMT
- The pair has slipped below 23.6% Fib retracement and has slipped below 21-EMA
- MACD confirms a bearish crossover on signal line
- Momentum is bearish. Stochs and RSI are sharply lower
- Chikou span is biased lower, 5-DMA is sharply lower
Support levels:
S1: 137.53 (50-DMA)
S2: 137.13 (55-EMA)
Resistance levels:
R1: 139.23 (21-EMA)
R2: 140.12 (5-DMA)
Summary: EUR/JPY poised for more downside. Next major support lies at 38.2% Fib and cloud top at 136.66.
