Price is trading in the red and tries to take out some major support levels to be able to start a broader drop. Is trading right above the 38.2% retracement level, which represents the last obstacle that needs to be ignored.
I’ve said in the previous articles that the bulls seem exhausted and could lose control. EUR/JPY goes down as the Yen is pushed higher by the Nikkei’s amazing drop. The JP225 index plunges and is located much below the 19700 static support and is expected to drop much deeper. This situation will help the Yen to dominate the currency market.
EUR/JPY ignored the median line (ml), the upper median line (ML) and the sliding line (sl), but further sell-off will be confirmed below the 38.2% retracement level.
