Technical outlook and chart setups:
The EUR/JPY pair is seen to be trading at the level 129.80 for now and is expected to be pushed higher through 133.00 untill prices remain above 128.00. It is recommended to remain long with risk at 128.00 for now. Immediate support is seen at 128.00, followed by 127.00 and lower while resistance is seen at 133.50 followed by 136.50 and higher respectively. The pair has broken the trend line resistance. It is seen in the buy zone for now. Also, the pair has back tested resistance turned support at 129.00.
Remain long for now, stop at 128.00, target is open.
The material has been provided by InstaForex Company – www.instaforex.com