EurJpy , Long

EUR/JPY rejected strongly last week after initial fall to 137.30. But upside is kept well below 142.90 resistance. Initial bias stays neutral this week first. On the downside, break of 137.37 will resume the decline from 148.30 to 135.41fibonacci level. However, considering bullish convergence condition in 4 hour MACD, break of 142.90 will argue that the correction from 148.38 might have completed. Intraday bias will be turned back to the upside for 146.70resistance.