Technical outlook and chart setups:
The EUR/JPY pair is seen to be trading around 138.80 levels at the moment, looking to push higher at least for short term. Please note that the pair has bounced off the fibonacci 0.383 support levels, of the rally between 133.00 and 141.00 levels earlier. It is quite possible that the pair could pullback higher or continue uptrend from here. It is therefore recommended to exit short positions for now and remain flat. Immediate support is seen at 135.50 levels, followed by 135.00, 133.00 and lower while resistance is seen at 141.00 levels and higher respectively.
Trading recommendations:
Exit short positions for now.
Good luck!
