FxWirePro: EUR/JPY rejected at stiff trendline resistance by 119.35, good to sell rallies

• EUR/JPY pauses downside and is attempting a minor recovery from new multi-year lows at 118.51 hit on 14th June.
   
• Upside in the pair finds stiff trendline resistance at 119.35, struggles to break above. Hourly 50-SMA at 119.29 also weighs on the upside.
   
• Techs on hourly charts point lower. Stochs are at oversold and RSI has turned to point south.
   
• Support on the downside seen at 118.90 ahead of 118.80 (rising trendline).
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Recommendation: Good to sell rallies around 119.25/30, SL: 119.50, TP: 119/ 118.80