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- The EUR/JPY fell back from 136.60 and moving downwards to test support level at 135. pair is currently is trading at 136.10, it is expected decline further towards 135.00 level.
- Major resistance is seen at 136.46 (61.8% Retracement level ), a break above at this level will expose the pair to 137.00 handle. On the downside strong support level is located at 135.44 (38.2% Retracement level).
Recommendation: Go short below 136.50 with Targets at 135.00, 134.80 SL 137.30
Resistance Levels
R1: 136.46 (61.8% Retracement level of 138.12 to 133.80 )
R2: 136.80
R3: 137.10
Support Levels
S1: 135.95
S2: 135..44 (38.2% Retracement level)
S3: 134.80 (23.6 % Retracement level)
