FxWirePro: EUR/JPY Trade Idea

EUR/JPY chart - Trading View 

EUR/JPY Technical Analysis: Bias Bearish
- Rejected multiple times at 110-EMA 
- Slips below 5-DMA which has turned
- Price breaks below 2H 200 SMA support
- Capped below 200W SMA
- Holds support at 55-EMA, break below to see weakness

Support levels - 125.88 (55-EMA), 125.30 (50-DMA), 124.86 (cloud top and trendline)

Resistance levels - 126.24 (5-DMA), 126.60 (100-DMA), 127

Recommendation: Stay short on break below 55-EMA, SL: 126.60 TP: 125.30/ 124.90

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.