EUR/JPY has formed Bearish engulfing pattern in hourly chart and this indicates short term weakness.
On the downside minor support is around 133.40 and any break below will target 132.65 (61.8% retracement of 130.13 and 136.67).
The pair’s resistance is around 134.60 and nay indicative break above could pave way for next target around 135.35/136.
Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell EUR/JPY around 133.90, SL 134.60, Targets 133/132.60.
On the downside minor support is around 133.40 and any break below will target 132.65 (61.8% retracement of 130.13 and 136.67).
The pair’s resistance is around 134.60 and nay indicative break above could pave way for next target around 135.35/136.
Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell EUR/JPY around 133.90, SL 134.60, Targets 133/132.60.
