07.07.201508:12 Forex Analysis & Reviews: Technical analysis of EUR/JPY for July 07, 2015

Long-term review

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Technical outlook and chart setups:

The EUR/JPY remains unchanged from what was discussed yesterday and is trading around 135.00 now. The pair might be looking to resume its rally from current levels through 140.00 again as depicted here. Please note that immediate support at 133.00 is still intact and bulls would want to remain in control until prices stay above that level. It is hence recommended to remain long for now with risk at 133.00. Immediate support is seen at 134.00 (interim) followed by 133.00 and lower, while resistance is seen at 139.00 followed by 140.00, 141.00, and higher respectively.

Trading recommendations:

Remain long for now, stop is at 133.00, a target is open.

Good luck!

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