FxWirePro: EUR/JPY bias remains on the downside, could target 129.30

 

• EUR/JPY continues trading below 131.81 (61.8% Fibo retracement of the 126.08-141.06 rise), weighs heavily on the market
   
• The risk remains for the pair to eventually break and close below 129.61 (76.4% Fibo retracement of the 126.08-141.06 rise)
   
• The pair is currently trading at 130.02, with immediate resistance at 130.35 (Session High Nov 26) and support at 129.77 (Daily Low Nov 25)

 

Good to sell rallies around 130.30, SL: 131, TP: 129.30
Resistance Levels:

R1: 130.35 (Session High Nov 26)

R2: 130.75 (Daily High Nov 25)

R3: 130.77 (Daily High Nov 24)

Support Levels:

S1: 129.77 (Daily Low Nov 25)

S2: 129.61 (76.4% Fibo 126.08-141.06)

S3: 129.39 (Daily Low Apr 28)