Expansion of EUR/JPY’s Fall

Pair's fall from 136.63 is expanding. Trading stays on the downside towards 132.04 support. Strong breach in that area will indicate medium term trend reversal. Following pivot points include: (S1) 132.62; (P) 133.58; (R1) 134.10.

Over 134.03 minor resistance trading will turn up in the neutral position.

A medium term growth from 109.03 has hit the 61.8% retracement of 149.76 to 109.03 at 134.20. Firm breach in that spot will head towards the key long term resistance zone of 141.04/149.76. Breach of 132.04 support will indicate medium term reversal. If EUR/JPY pulls back strongly, the prognosis will remain bullish.