Technical Outlook and Chart Setups:
As shown above, Eur/Jpy has registered a higher low at the 96.50/60 levels yesterday. Also, this region was earlier acting as resistance which has now turned support. The single currency pair is now expected to register fresh highs in the coming sessions. The measured extension levels are at 98.50 and 99.00 at least. Fresh buy positions can be taken by placing stop below yesterdays' lows. Earlier long positions should be held for now. Bulls are setting up to challenge the above resistances.
Trading Recommendations:
Hold on to long positions, fresh buying can be made with stop below 96.50, target 98.50 and 99.00.
Good Luck!
