We prefer to go short in EUR/JPY

FX:EURJPY   Euro / Japanese Yen
EUR/JPY has made a low of 143 and is slightly recovering from that level. Overall trend is bearish as long as resistance 145.65 holds.

On the upside break above 145.65 will take the pair to 146.25/147.30 in short term.

The pair’s minor support is around 145 and any break below would extend gain to 143.50/142.25.

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

Recommendation: Sell EUR/JPY around 144.85, SL 145.65, Target 142.28.