The EURJPY is trading above a minor support line on the 4 hour chart. The market makes a lower low to high movement after the most recent bullish movement.
The Stoch RSI momentum shows bearish and MACD is showing bearish wave on going, MACD bars are turning dark red, and MACD line has smoothly broken below the signal line.
I created an ABC pattern projection that will probably be finished with the fourth leg, or the C point. With entry at 137.912 below the most recent local lower price, price level 135.500 is our target.

• There is resistance at 138.471, followed by resistance at 138.817and 139.376.
• There is support at 137.912. Below, there is 137.033 and 135.500.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

eurjpy