Technical outlook and chart setups:
The EUR/JPY pair is seen to be trading around 134.00 at the moment, in a counter-trend move. Initial supply region is seen around 134.60/70 which are the fibonacci 0.382 levels of a drop between the levels of 139.00 and 132.00. It is recommended to exit long positions around 134.70 taken yesterday and turn bearish when a signal appear. Immediate support is seen at 132.00/25 (interim), followed by 130.00 and lower, while resistance is seen at 136.00/137.00 (interim), followed by 139.00 and higher.
Book profits on long positions around 134.70 taken yesterday .
The material has been provided by InstaForex Company – www.instaforex.com