FxWirePro: EUR/JPY key resistance at 134.81,sell deals are recommended below 135.00

>EUR/JPY rebounded strongly to test 134.80 resistance level in the early US session, after the pair found renewed  buying interest ahead of  FOMC meeting.However ,the pair  failed to break resistance level at 134.80 and is turning downwards.The pair has to break  above 135.44 in order to find any bullish momentum , unless until this pair remains under bears control. Therefore, it's good to sell this pair below 135.00 levels.

>The currency pair is trading at 134.60 levels, it is expected to reach 134.00 levels and 133.50 levels in the short term.

>The immediate support can be seen at 134.20 (38.2% Retracement level), break below this level will expose the pair to next support level at 133.44 (23.6% Retracement level).

>Major resistance can be seen at 134.80, break above this level will expose it towards 135.44(61.8% Retracement level).

Recommendation: Go short below 135.00 with targets at 134.20, 133.60 SL 136.00.

Resistance Levels

R1: 134.80(50% Retracement level)

R2: 135.44 (61.8% Retracement level)

R3: 136.12 (Sep 21st high)

Support Levels

S1: 134.20 (38.2% Retracement level)

S2: 133.44 (23.6% Retracement level)

S3: 133.14 (Sep 23rd lows)