FxWirePro: USD/CNY outlook weaker on renewed downside pressure 
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FxWirePro: USD/CNY outlook weaker on renewed downside pressure 
- Bid tone around the JPY improved in the Asian session as oil extends losses and Asian equities strengthened.
- EUR/JPY has broken major trendline support at 113.95 and hit 3-day low of 113.54.
- Techs on 2-hourly charts are biased lower, weakness to continue till resistance at 114 holds.
- The pair finds support at 113.33 (June 30 low), 112.94 (June 29 low) and 112.83 (session low June 28).
- On the upside resistance is located at 114, 114.23 (5-DMA) and 114.50 (July 4 high).
- Later in the day, Eurozone retail sales number and US Markit services PMI number could influence the cross.
Recommendation: Good to sell rallies around 113.75/80, SL: 114.25, TP: 113.35/ 113
