FxWirePro: EUR/JPY breaks below 38.2% Fib retracement, dip till 200-DMA at 133.66 likely

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/JPY was trading 0.66% lower on the day at 135.95 at around 09:55 GMT

- The pair has shown a decisive break below 38.2% Fib retracement

- Momentum indicators are biased lower, RSI is well below the 50 mark

- MACD and ADX support downside in the pair. Chikou span is biased lower

- GMMA indicator shows major trend is neutral while minor trend is bearish

Support levels:

S1: 134.33 (50% Fib)

S2: 133.66 (200-DMA)

Resistance levels:

R1: 136.68 (38.2% Fib)

R2: 137.17 (110-EMA)

Summary: EUR/JPY trades with a bearish bias. Scope for dip till 50% Fib retracement at 136.68.