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Short

EUR/JPY breaks below 200-DMA, short upticks

FX:EURJPY   Euro / Japanese Yen
EUR/JPY slumps below 200-DMA , breaks 130 handle to hit 4-week lows at 129.93.
Eurozone investor confidence weakened in October as uncertainties about Italy's fiscal policy and the automobile industry in Germany weigh.
Italian 10-year bond yield rising to 3.5% for the first time since 2014, exerting some downward pressure on the EUR.
Momentum studies are bearish . Stochs and RSI are sharply lower and MACD is showing a bearish crossover on signal line.
Break below 110-EMA at 130.08 to see next major support at 128.87 (50% Fib). Retrace above 200-DMA negates bearish bias.

Good to stay short on upticks, SL: 130.95, TP: 129.90/ 129/ 128.90
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