Technical outlook and chart setups:
The EUR/JPY pair is trading around 135.90 at the moment. It is already on its way towards 140.00 and higher respectively. Any further pullbacks from here should remain well supported ahead of 134.50. It is hence recommended to remain long for now and also look for an opportunity to add further positions on dips, with risk at the level of 133.00. Immediate support is seen at 133.00, followed by 131.30/50 and lower, while resistance is seen at 139.00 followed by 140.00, 141.00, and higher respectively. Intraday dips should be gained until prices stay ahead of 133.00 levels.
Remain long for now, stop is at 133.00, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com