- EUR/JPY trades lower after gap-up open on Monday as Yen remains broadly weaker on dovish Kuroda's comments.
- Yen subdued on BOJ Governor Kuroda’s comments delivered over the weekend, citing that there is still more room for monetary policy easing.
- EUR/JPY has broken major resistance by 20-DMA at 113.71, we see scope for test of next major hurdle at 114.40 (falling trendline).
- Support on the downside is seen at 113.35 (5-DMA), break below will see next major support at 112.60 (rising trendline).
- With no major data due for release today, broader market sentiment should influence the pair.
Recommendation: Good to long on dips around 113.60/65, SL: 113.20, TP: 114/ 114.40/ 114.80
