Technical outlook and chart setups:
The EUR/JPY pair is trading around 136.90 at the moment after hittin intraday highs at 138.00 yesterday. The pair has rallied sharply from yesterday’s sub-level of 134.00 and it looks like the rally has potential to move higher. It is therefore recommended to hold long positions taken yesterday and also look to add further. Bulls should remain poised to be in control until prices stay above 133.00. Immediate support is seen at thre level of 134.00 (interim) followed by 133.00 and lower. Resistance is seen at 139.00 followed by 140.00/141.00 and higher respectively.
Remain long for now, stop is at 133.00, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com