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EUR/JPY breaks 20-DMA at 134.39, dip till 133 levels likely : FxWirePro | January 10, 2018
EUR/JPY -0.69% has broken support at 20-DMA at 134.39 to hit 3-week lows at 134 levels.
The pair is extending downside for 4th successive session after shooting star at highs.
Technical studies on intraday charts are bearish , RSI and Stochs are biased lower.
Next immediate support lies at 50-DMA at 133.36, breach there raises scope for test of 133 levels.
On the flipside, retrace and close above 20-DMA negates bearish bias.
Support levels - 133.36 (50-DMA), 133 ( trendline ), 132.90 (20W SMA )
Resistance levels - 134.35 (5W SMA ), 134.39 (20-DMA), 135
Good to go short on rallies around 133.70/90, SL: 134.60, TP: 133.40/ 133/ 132.90.
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