Technical outlook and chart setups:
The EUR/JPY pair is seen to be holding above recent lows made around the 134.75/135.00 levels. Bulls are expected to remain in control until prices stay above the 134.75 levels broadly. A bullish reversal here would target the 139.00 levels and higher in the weeks to come through. It is hence recommended to remain long for now with risk around the 134.00 levels. Immediate support is seen at the 134.75 levels, followed by 134.00, 133.00 and lower, while resistance is seen at the 137.00 levels, followed by 138.00/139.00 levels and higher.
Trading recommendations:
Remain long for now, stop is at 134.00, target is open.
Good luck!
