The EURJPY pair has broken down the 61.8% retracement level after scaling to the new high of 145.68, signaling a strong sell on the pair with a stop loss around 137.7 in case if it is a false break out. The pair has been under imense pressure from supply side ever since the pair scaled the weekly high, ever since the pair has been decline every week. The momentum is likely to continue and may push the pair towards. 131.2 level. The continued weakness in USDJPY pair and the weakness in EUR should support the price action. The bulls have sidelined themselves completly and the bears have taken a strong hold on breach of 136.7 level...

Entry  :136.7 level
Stop loss : 137.7
T.Profit : 135.5

Good luck folks
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