Technical analysis of EUR/JPY for July 18, 2014

 Technical outlook and chart setups:

1. The EUR/JPY pair is drifting lower towards major swing lows near 136.30/50 levels as seen here. It is difficult to enter fresh at this moment, on either side.  Recommendations are to remain flat and watch the pair move in the next 2 trading sessions before entering. 

2. Support is at 136.00/30 levels, followed by sub 134.00, while resistances are at 138.50, followed by 139.00, 140.00, 141.00 and higher respectively.

3. The structure indicates that EUR/JPY could remain lower till 138.00/139.00 breaks. 

Trading recommendations:

Remain flat for now.

Good luck!