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- The EUR/JPY fell back from 139.90 level and moving below 138.97 (61.8 % retracement level).
- The pair is currently is trading at 138.80, it is expected decline further towards 138.00.
- Major resistance is seen at 139.29 (50 % retracement level), a break above at this level will expose the pair to 140.00 (23.6% retracement level).
Recommendation: Go short below 139.30 with Targets at 138.60, 138.25 SL 140.20.
Resistance Levels
R1: 138.97 (61.8% Retracement level)
R2: 139.30
R3: 139.60 (23.6 % Retracement level)
Support Levels
S1: 138.75
S2: 138.58(61.2% Retracement level)
S3: 137.95 (June 12th lows)
