FxWirePro: EUR/JPY key resistance at 134.81,sell deals are recommended below 134.60

>EUR/JPY has rebounded strongly from 133.70, after the pair found strong bullish momentum after  hawkish ECB meeting. The pair continues to remains in bearish territory as it is trading below strong resistance level located at 135. pair has to break above 135.42 in order to find any bullish momentum , unless until this pair remains under bears control. Therefore, its good to sell this pair on rallies.

>The currency pair is trading at 134.25 levels, it is expected to reach 133.80 levels and 133.50 levels in the short term.

>The immediate support can be seen at 134.20 (38.2% Retracement level),break below this level will expose the pair to next support level at 133.44 (23.6% Retracement level).

>Major resistance can be seen at 134.81, break above this level will expose it towards 135.42 (61.8% Retracement level).

Recommendation: Go short below 134.81 with targets at 134.20, 133.80 SL 136.00.

Resistance Levels

R1: 134.66 (Sep 23rd high)

R2: 134.81 (50% Retracement level)

R3: 135.42 (61.8% Retracement level)

Support Levels

S1: 134.20 (38.2% Retracement level)

S2: 133.44 (23.6% Retracement level)

S3: 133.14 (Sep 23rd lows)