Technical outlook and chart setups:
The EUR/JPY pair continues to move towards lower lows with recent low seen at 132.19. As depicted on the H4 chart, the pair remains clearly in the sell zone of immediate resistance line. A pullback/recovery might occur with respect to divergence in indicators (not shown), but a clear breakout above 132.20/30 is expected to instil confidence. It is hence recommended to remain flat for now and wait for a further confirmation. Immediate interim support is seen at 130.00 followed by 129.00 and lower, while resistance is seen at 132.20/30 and higher.
Trading recommendations:
Remain flat for now.
Good luck!
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