Technical outlook and chart setups:
The EUR/JPY pair is trading around 132.92 at the moment. The pair has reversed from 133.75 facing interim resistance there. Bears should remain in control until prices stay below 133.75 going ahead. It is hence recommended to remain short with risk at 134.50 now. Immediate resistance is seen at 133.75 followed by 134.50 and higher, while support is found at the level of 131.50 and lower looking for an opportunity to drop to at least 131.50/70 in the sessions to come.
Trading recommendations:
Remain short with stop at 134.50, a target 131.50
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com