Technical outlook and chart setups:
1. The EUR/JPY pair is extending rally above 138.00 levels as expected. Minimum expectations are into the 139.40 levels and potential remains into the 141.50/60 levels. It is recommended to remain long for now, risk remains at 136.50.
2. Support is seen at 136.50, followed by 136.00 and lower while resistance is seen at 139.30, followed by 140.10 and higher respectively.
3. The structure indicates that EUR/JPY remains firmly in control of bulls.
Trading recommendations:
Remain long, stop at 136.50, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
