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EUR/JPY: Moving Lower
EUR/JPY has breached its support at 141.50. The break to the downside from the recent horizontal range favours further short-term weakness. However, monitor the test of the support at 140.92. Another support stands at 138.43. Hourly resistances are at 142.41 (intraday high) and 143.17.
The long-term technical structure remains positive as long as the support at 131.15 (08/10/2013 low) holds. However, the deep overbought conditions suggest some caution. A resistance lies at 147.04 (16/09/2008 low).