FxWirePro: EUR/JPY struggles at 114 handle, bias lower

• EUR/JPY trades a narrow range in the Asian session with a high of 114.58 and a low of 113.97.
   
• Market turns slightly more risk averse in Asia which could boost demand for the Yen, while Brexit outcome has damaged the single currency's outlook.
   
• Markets await declarations from the Conservative leadership ahead of the Thursday deadline, investors wary, another boost for the Yen.
   
• Hourly charts show downside for the pair, break below 114 could see downside upto 113.52 levels.
   
• Technical indicators on hourlies are biased lower, Stochs and RSI point south and the pair has slipped below H 5-SMA.
   
• Next support below 114 is seen at 113.70 (rising trendline) ahead of 113.52 (lower Bollinger Band) and then 112.94 (June 29th low).
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Recommendation: Good to sell rallies around 114.15/20, SL: 114.60, TP: 113.70/ 113.50/113