EUR/JPY Short term outlook

FX:EURJPY   Euro / Japanese Yen
131 3 0
EUR/JPY             has taken support around 133.50 (S1) and is currently trading around 133.80. Any break below 133.50 will confirm short term weakness and reach till 132.30(S2) cannot be ruled out.

On the higher side Major resistance is around 134.50 (R1 Support turned in to resistance) and above will pull the pair slightly upwards till 135.20 (R2) and 136 (R3).

Indicators (4 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell EUR/JPY             around 134, SL 134.55, Target 132.30.
Hi FxWirePro,
If the price meets your criteria, will you enter a trade even though Bank of England Governor is scheduled to speak?
FxWirePro DerekUweri71
Sorry for the delay technically it is looking weak. So BOE will deliver only hawkish comments regarding rate hike. They will not give exact date for rate hike
DerekUweri71 FxWirePro
Thanks for reply. My comment should have been in the GBPJPY section not EURJPY, sorry about that. Carney didn't say anything significant anyway. Wouldn't GBPJPY rally if BoE deliver hawkish comments?
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