Technical outlook and chart setups:
The EUR/JPY pair is trading around 138.50 now, but the pair had dropped to 138.00 in early trading hours yesterday before pulling back. As seen here, the support trendline has provided targeted bounce at 138.00. It is hence recommended to remain long for now, with risk at 137.70. Immediate support is seen at 138.00 (interim) followed by 135.00, 133.00, and lower. Resistance is seen at 140.00 (interim) followed by 141.00 and higher respectively.
Trading recommendations:
Remain long, stop is at 137.70, a target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com