EUR/JPY Is Bearish

EUR/JPY broke out below the (MA)89 indicator on the daily time-frame at 132.20 despite the hammer candlestick it had formed at that level on the same time-frame. Currently the pair continues moving to the downside. More importantly, it has also formed a pair of shooting star candlesticks on the weekly time-frame at the resistance at 133.50, which are a good signal for a move to the downside. 

Now that there has been a breakout and considering those candlesticks the pair will probably continue moving down, the first target being around 131.00. The long-term target could likely be around 128.80, which is the (MA)89 indicator on the weekly time-frame.