FxWirePro: EUR/JPY continues to hit fresh yearly lows, scope for test of 119 levels

EUR/JPY has broken below strong channel base support at 125 levels, to extend downside.

• The pair continues to hit fresh yearly lows at 123.028, levels last seen in Apr 2013, further weakness likely.
   
• Downside intact, Techs biased lower, tests of 119 levels now seen likely.
   
• Our earlier call (http://www.econotimes.com/FxWirePro-EUR-JPY-holds-strong-channel-base-support-at-125-weakness-only-on-breaks-below-164944) has hit targets 1 and 2.
   

Recommendation: Book partial profits, hold for further downside, lower trailing stops to 124.45