Talking Points: •EUR/JPY Technical Strategy: Flat •Support: 133.69, 132.80, 131.52 •Resistance:135.36, 136.95, 138.41 The Euro turned lower against the Japanese Yen as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 133.69-134.38 area (May 4 low, 23.6% Fibonacci retracement) exposes the 38.2% level at 132.80. Alternatively, move above the 14.6% Fib at 135.36 clears the way for a test of the May 18 high at 136.95. Prices are too close to support to justify entering short from a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal ... (full story)