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- EUR/JPY is attempting a tepid recovery from session lows at 114.43.
- Intraday bias lower, upside capped by 5-DMA at 114.82.
- We see scope for test of 114.20 (major trendline support).
- Further weakness only on break below. Test of 112.30 levels then likely.
- Major support levels - 114.20 (trendline), 114, 113.81 (Sept 7 low), 113
- Major resistance levels - 114.64 (50-DMA), 114.81 (5-DMA), 114.91 (10-DMA)
Recommendation: Good to sell rallies around 114.70, SL: 115, TP: 114.20
