Technical outlook and chart setups:
The EUR/JPY pair is inching higher towards 137.00. The intraday dips are very shallow and immediate support is seen at the level of 135.50. Please note that upside potential remains up to the levels of 139.50 and 140.60. A push above 138.00 would confirm the further bullish setups. It is therefore recommended to buy on dips from here on, with risk at 135.00. Immediate support is seen at 1325.50 followed by 134.30, 133.00,and lower while resistance is seen at 138.00 followed by 139.00, 140.00, and higher respectively.
Look to buy on dips.
The material has been provided by InstaForex Company – www.instaforex.com