Technical outlook and chart setups:
The EUR/JPY pair is pulling back at the moment after printing highs around 141.00 levels last week. The 1H chart suggests that support starts from 139.15 (fibonacci 0.382) levels at least, while optimum place for a higher low would be around 138.30/50. Please note that past resistance turned support region is also around 138.50, as depicted here. Immediate chart support is also seen at 138.48, while resistance is at 141.20 (interim). Upside potential for the pair still remains at 142.30/50 but a good place to re-enter long positions would be between 138.50 and 139.00 for now.
Trading recommendations:
Remain flat for now. Looking to enter long between 138.50/39.00.
Good luck!
