Technical outlook and chart setups:
1. The EUR/JPY pair is again seen to be bouncing off the channel support ahead of 141.00 levels. The pair could target 142.00/50 levels again if channel remains intact. Recommendations for now is to remain long, risk is below 141.00. A break higher than 142.50 could re-test 143.00/50 levels.
2. Support is at 141.00, followed by 140.00, 138.50, 136.00 and lower, while resistance is at 142.50, followed by 143.50/144.00, 145.50 respectively.
2. The structure indicates that EUR/JPY should remain in control of bulls till prices stay above the channel support and 141.00 levels.
Trading recommendations:
Remain long, stop below 141.00, target is open.
Good luck!
