FX.co ★ EUR/JPY: more declines?

EUR/JPY Uptrend Is Over!

The EUR/JPY pair continues to move somehow sideways after dropping below the uptrend line. As you already know, when the rate drops below an uptrend line announces that the upside movement could be over and that the sellers could take the lead.

Personally, I've drawn a downtrend line, so the EUR/JPY could drop towards new lows as long as it stays under this level.

EUR/JPY Trading Conclusion!

The EUR/JPY pair could develop a larger drop if it slips and stabilizes below the 134.31 immediate low which represents a downside obstacle.