Technical analysis of EUR/JPY for June 12, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is trading around 139.00 now looking to continue dropping lower in the sessions to come. Please note that an evening star candlestick pattern has been formed on the daily chart and around fibonacci 0.618 resistance. It is recommended to remain short for now with risk around 141.50. Immediate support is seen at the level of 138.00 followed by 135.00, 133.00, and lower. Resistance is seen at 141.00 followed by 142.00 and higher respectively. Bears are poised to remain in control until prices remain below 141.00.

Trading recommendations:

Remain short, stop is at 141.50, a target is open.

Good luck!

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