EURJPY Chart Technical Outlook loses upside momentum over risk aversion, bears eye 157.20
EUR/JPY broad bias is bullish but fading on printing a widening structure – higher high and lower low. Prices stalled at the recent bearish leg’s 50% Fibo retracement level. I expect more downside price action amid the current risk aversion sentiment following yesterday’s surprise print from the US ISM Services PMI data and the renewed tension between the US and China over technology.
Resistances: 158.70, 159.50
Supports: 157.80, 157.20