Technical outlook and chart setups:
The EUR/JPY looks for an opportunity to form an interim low/bottom around the level of 129.80 on November 25, 2015. The pair is trading at 130.08/09 right now, poised to through immediate resistance at 130.70 and 131.00. Potential for a bullish reversal from current price actions remains. It is hence recommended to remain long with risk around 129.30 now. Immediate support is seen at the level of 129.80 followed by 129.00, 127.00, and lower, while resistance remains at 130.70 (immediate) followed by 131.00, 132.20, and higher respectively. Bulls are expected to remain in control until prices stay above the level of 129.80.
Trading recommendations:
Remain long with stop at 129.30, a target is open.
Good luck!
