Midday report

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After touching the detected resistance level of 129.90 during the previous session; the EUR/JPY pair declined sharply once more under the negative pressure of the negative harmonic structure-four-hour chart- and the continuation sign for the negative trend, appearing on AROON indicator. Henceforth, we keep our suggested bearish scenario for the rest of the day.

Trading range for today is among key support at 125.60 and key resistance now at 133.60.

The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels.

Check our morning report here

Support128.90128.45127.85127.35126.80
Resistance129.90130.50131.05131.60132.00
RecommendationOur morning expectation is still valid.