Technical outlook and chart setups:
1. The EUR/JPY pair seems to have taken support from the back side of resistance turned support line around 136.50 levels last week. Current price is around the 137.40/50 mark and is expected to rally through 139.00 levels and higher.
2. Support is seen at 136.50 (interim), followed by 136.00 and lower while resistance is seen at 139.20, followed by 140.00 and higher respectively.
3. The structure indicates that EUR/JPY is in control of bulls at the moment and rally is set to gain momentum.
Trading recommendations:
Remain long, stop at 136.00, target is open.
Good luck!
