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