FX.co ★ Technical analysis of EUR/JPY for February 26, 2014

Technical outlook and chart setups:

1. The EUR/JPY is stalling at 140.00 levels, which is also the fibonacci 0.50 resistance of fall from 145.50 to 136.00. It is recommended to remain short for now and also look to add further. Risk remains at 143.00.

2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are spread through 134.00, 131.00 and lower respectively.

3. The structure reveals that an intermediary top formation is done around 140.00 region and the next move is lower from here. Please note that trend line support is at 136.00 now.

Trading recommendations:

Remain short, stop is at 143.00, target is open.

Good luck!