Technical outlook and chart setups:
The currency pair is holding resistance at 142.00 levels for now. It is recommended to initiate short positions between 141.60/70 levels with a risk at 142.50/60 from here on. As depicted here in the 4H chart view, supports are spread through 138.50 levels, followed by 137.00 and 134.00 respectively. The structure reveals of a short setup being formed now, with a target of 138/139 levels at least. On the flip side, a push beyond 142.00 would trigger upside movement towards 142.80/90 levels. That could be the final top before reversal. It is recommended to refrain from buying at the moment.
Trading recommendations:
Short between 141.60/70, stop at 142.60.
Good luck!
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