Price has now fallen below the short term moving averages and many model players will now await a negative cross. The breakdown level was 135.80 and that should now prove to be a good short-term resistance level. Next support can be found at a series of former highs around 133.30. The target for bears will be the main trendline at 130.60 today, and this is bolstered below by the 100 and 200-day MAs.
EUR/JPY technicals: scope to fall to 130.60
Source: www.forexlive.com
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