Technical outlook and chart setups:
The EUR/JPY pair has been hold 134.00 levels for now after hitting 134.50/60 levels yesterday. The pair still remains inclined towards a bullish break towards at least 137.50 and 138.00 levels as we have been discussing lately. It is still recommended to remain bullish, with stop below 132.50 levels. Immediate support is seen at 133.20/30 levels (interim), followed by 132.25, 130.00 and lower while resistance is seen at 135.90/136.00, followed by 165.50 (interim), 137.50/138.00 and higher respectively. Bulls are expected to remain in control till prices stay above 132.00 and subsequently above 130.00 levels respectively.
Trading recommendations:
Remain long, stop at 132.50, a target is 138.00.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
