EURJPY retracement should continue further. 1.32 in focus


Technical outlook and chart setups:
The currency pair seems to be poised to retrace further lower towards the 1.32 levels at least, as depicted here. Please note that the rising trendline is also passing through the same levels at the moment. It is recommended to initiate short positions (only 50%) with the risk at the 136.00 levels. Support levels are spread through 131.00-129.00, and 128.00; while resistance is fixed at the 135.50 levels, respectively. A bullish bounce at 132.00 would be favourable for building long positions again. In the short term, expect prices to retrace lower at least.

Trading recommendations:
Initiate short positions in small capacity, stop is at 136.00 target is at132.00

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