Technical Outlook and Chart Setup:
The single currency pair bounced off the recent trend line support as depicted above on Friday. This level (95.70) defines the line in sand for bulls to fight back and move higher. A failure would shift focus once again towards fresh lows. Nevertheless, at this moment EurJpy is holding well its previous gains. Immediate support is just below 95.00 while resistance is close at 98.00 level.
Trading Recommendations:
Hold on to long positions taken earlier, target 98.50.
Good Luck!
