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Technical analysis of EUR/JPY for June 09, 2015

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Technical outlook and chart setups:

The EUR/JPY pair is stalling around the level 141.00 at the moment. Please note that fibonacci 0.618 resistance is faced at 141.00 as depicted here. Bearish reversal cannot be ruled out from the current price action. A push below 139.00 should accelerate the drop further lower. It is hence recommended to remain short for now with risk above the level of 142.00. Immediate support is seen at 139.00 (interim), followed by 137.00, 135.00, 133.00, and lower while resistance is seen at the levels 142.00 followed by 144.50 and higher respectively.

Trading recommendations:

Remain short, stop is at 142.50, a target is open.

Good luck!

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