Midday Report

The same thing that can be said on the EUR/JPY pair, as it still movingwithin a tight range under the negative pressure of the extended harmonic wave at 261.8% Fibonacci level, as seen on the provided four-hour chart. Hence, we keep our overview to the downside for the rest of the day. Breaking134.85 will clear the path for violent bearish movements, targeting 134.15 zones first, followed by 133.60.

The trading range for today is among key support at 132.50 and key resistance now at 138.20.

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

RecommendationOur morning expectations remain valid