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- EUR/JPY extending downside from brief break above 55-EMA (currently at 115.37).
- Intraday bias lower, Stoch and RSI biased south.
- German industrial production data missed forecasts, dipped from previous 0.5% to -1.2% in July.
- The pair is currently holding 20-DMA support at 113.99, break below to target 113.35 (trendline support).
- Major support levels - 113.99 (20-DMA), 113.35 (trendline), 113, 112.65 (Aug 18 low)
- Major resistance levels - 114.70 (10-DMA), 114.88 (session high), 115, 115.13 (5-DMA)
Recommendation: Good to sell rallies, SL: 115, TP: 113.35/ 113/ 112.65
