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- EUR/JPY holds strong support by 20-DMA at 114.02, weakness only on break below.
- Momentum has turned bearish after rejection at 100-DMA, we see scope for further downside.
- Major support levels - 114.03 (20-DMA), 113, 112.85 (trendline), 112.78 (Aug 24 low)
- Major resistance levels - 114.80 (5-DMA), 114.88 (10-DMA), 115, 115.50 (100-DMA)
Recommendation: Short break below 114, SL: 114.75, target: 113.35/ 112.75/ 112.30
