Technical outlook and chart setups:
The EUR/JPY pair is trading around the level of 136.00 at the moment, after having pulled back from 136.50 earlier. Please note that bears should now remain in control until prices stay below 137.00. Also note that a bearish evening star pattern has been formed on the H4 chart view. It is hence recommended to remain short and initiate fresh short positions as well with risk above the level of 137.00. Immediate support is seen at 134.00 followed by 133.00, 131.50, 129.00, and lower. Resistance is seen at the level of 137.00.
Remain short, stop at 137.30, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com