FxWirePro
Short

EUR/JPY breaks major support at 114.20, ontrack to test 112.80

FX:EURJPY   Euro Fx/Japanese Yen
176 0 9
EUR/JPY             recovery attempts rejected at session highs st             114.29.

The pair has breached 20-DMA at 114.58 and major trendline support at 114.20 on Friday's trade.

Technical indicators are biased lower, we see scope for further downside.

Major support levels - 113, 112.80 (trendline) 112.36 (Aug 16 low)

Major resistance levels - 114.35 (trendline support turned resistance), 114.59 (20-DMA), 114.83 (Sept 16 low)

Good to sell rallies with SL: 114.60, TP: 112.80/ 112.40

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