- EUR/JPY breaks below strong support at 200-DMA at 131.23, bias lower.
- The pair has slipped below 131 handle to hit session lows at 130.89 (lowest since Sept 15 2017).
- Technical indicators are bearish. RSI and Stochs are biased lower. We see -ve DMI dominance.
- Momentum studies are heavily bearish, but Stochs are in oversold levels so caution advised.
- Violation at 200-DMA raises scope for further weakness. Scope now for test of 38.2% Fib at 128.85.
- On the flipside, retrace and close above 200-DMA could see some consolidation. Breakout at 20-DMA invalidates bearish bias.
Support levels - 130.60 (Sept 15 low), 129.37 (Sept 6 low), 128.85 (38.2% Fib retrace of 114.85 to 137.506 rally)
Resistance levels - 131.23 (200-DMA), 131.35 (5-DMA), 132.15 (23.6% Fib), 133.16 (20-DMA)
Recommendation: Good to go short on rallies around 131, SL: 132.15, TP: 130.60/ 130/ 129.40/ 128.85.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


FxWirePro- Woodies Pivot(Major)
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro:EUR/AUD eases but bullish outlook persists
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro- Major European Indices
FxWirePro: USD/ZAR edges higher but bearish outlook persists
FxWirePro- Major Crypto levels and bias summary
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 



