Technical outlook and chart setups:
The EUR/JPY pair seems to be breaking below the channel line support as seen here. It is recommended to exit long positions at market at 147.20. Aggressive trade setup would be to initiate short positions further, with risk at 149.00. The pair could potentially produce a deeper correction from here on. Immediate support is seen at 146.50, followed by 145.50, 145.00 and lower while resistance is seen at 148.25, followed by 149.00 respectively. Please note that the larger support trend line is passing through 142.00 levels for now, which could be a potential support for the pair after break of 145.50 zone.
Trading recommendations:
Exit long positions. Initiate short positions at 147.00/20, stop at 149.00, target is open.
Good luck!