Technical outlook and chart setups:
The EUR/JPY pair is trading around 135.90 at the moment, preparing to rally further towards 139.00 levels. Please also note that the support-turned-resistance trendline is also passing through 139.50/70. It is hence recommended to remain long now with risk below 133.00. Immediate support is seen at 133.95 (interim) followed by 133.00 and lower respectively. Resistance is seen at 139.00 followed by 140.00, 141.00, and higher respectively. Bulls are expected to remain in control until prices stay above 133.00.
Remain long for now, stop is at 133.00, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com