Technical outlook and chart setups:
1. The EUR/JPY is stalling around 139.00 levels at the moment, which is also fibonacci 0.50 resistance as seen here. A push above 139.00 here, would test the 139.30/40 levels which is fibonacci 0.618 resistance and trend line confluence.
2. Support is around 137.70/75, followed by 136.50, 134.00 and lower, while resistance is at 139.30/40, followed by 140.00, 141.00 and higher up respectively.
3. The structure indicates that EUR/JPY should be in control of bears until prices remain below 140.00.
Trading recommendations: Remain flat for now. Look to sell the rally around 139.20/30
Read more: https://www.instaforex.com/forex_analysis/47312/