FX.co ★ Technical analysis of EUR/JPY for June 27, 2014

Technical outlook and chart setups:

1. The EUR/JPY returns from fibonacci 0.50 resistance level, just ahead of the 139.00 region. A continued dip from here could challenge 137.80 and lower while a push through 138.80 could test the fibonacci 0.618 at 139.20 levels. Recommendations are to sell rallies.

2. Support is seen at 137.80 levels, followed by 136.50 and lower, while resistance is seen at 139.20, followed by 140.00 and higher respectively.

3. The structure indicates that EUR/JPY pair remains bearish, till prices stay below 140.00 levels.

Trading recommendations:

Selling rallies is through 139.20 levels is recommended.

Good luck!