FxWirePro: EUR/JPY downside pauses at 61.8% Fib, momentum still with the bears

• EUR/JPY is retreating from last week’s tops just above 128.00, and downside for now is taking a breather at 61.8% Fib at 124.41.
   
• After breaching strong trendline support at 125.26, the pair saw downside test 124.37 before edging higher to trade at 124.50 levels.
   
• Momentum studies continue to show further downside, breaks below 24.25 (Mar 7th lows) will accentuate downside. Scope then for test of 78.6% Fib at 123.37.
   
• Our previous call for the pair (http://www.econotimes.com/FxWirePro-EUR-JPY-breaks-strong-trendline-support-at-12526-good-to-sell-rallies-190272) has achieved all targets.
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Recommendation: Book partial profits, lower stops to 125, target 124.25/124/123.85