• Sell-off in Yen post BoJ meeting proved to be short-lived, EUR/JPY spiked to 133.77 levels, but the spike was quickly sold off.
  
  
• BOJ earlier today kept monetary policy steady as expected. It pledged to increase monetary base at annual pace of 80 trln yen and increase purchases of ETFS.
  
  
• Techs for the pair point south,falling wedge formation on daily charts, with strong resistance by wedge top around 133.80.
  
  
• Price action falied at wedge top multiple times, pair unable to break above, daily cloud also weighing on the upside.

Recommendation: Sell rallies around 132.70, SL: 133.80, TP1: 131.55, TP2: 130.70

Resistance Levels:

R1: 133.26 (Daily Cloud Base)

R2: 133.37 (Dec 17 high)

R3: 133.78 (Daily Highs Dec 11, 16)

Support Levels:

S1: 132.23 (Sept 4 lows)

S2: 132.13 (Kijun, 50% 129.67-134.58)

S3: 132.05 (30-Day MA)

S4: 131.55 (61.8% Fibo 129.67-134.58)