FxWirePro: EUR/JPY breaks strong trendline support at 125.26, good to sell rallies

• EUR/JPY is retreating from last week’s tops just above 128.00, and has breached strong trendline support at 125.26.
   
• Momentum studies are bearish, confirming further downside in the pair.
   
• Immediate support is seen at 125, breaks below will take the pair to next supports at 124.67 (Mar 22nd lows) and then 124.41 (61.8% Fib retrace of 112.058 to 128.221 rise).
   
• Cloud base at 125.89 is strong resistance on the topside ahead of 125.96 (Feb 19th highs).
  ​

Recommendation: Good to sell rallies around 125.40, SL: 125.90, TP: 125/124.70/124.40