Technical outlook and chart setups:
The EUR/JPY pair stalls around the levels of 34.75.00 pulling back at the moment. The pair has completed correction at 133.20/30 and is poised to rally towards 139.00 in the sessions to come. It is hence recommended to remain long with risk at 132.00. Immediate support is seen at the levels of 132.00, while resistance is seen at the levels of 137.00 levels, followed by 139.00, 140.00, 141.00, and higher respectively. Bulls are expected to remain in control ubtil prices stay above 132.00.
Trading recommendations:
Remain long with stop at 132.00, a target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com