Technical outlook and chart setups:
The EUR/JPY pair is seen to be trading at the 130.50 levels for now looking to push through and trigger a rally at 132.30 and subsequently 134.00 levels at least in the coming sessions. It is recommended to remain long for now with risk around the 129.00 levels. Immediate support is seen at the 129.50/60 levels, followed by 129.00 and lower, while resistance is seen at the 132.20 levels and higher. Please note that bulls should remain poised to push higher until prices stay above 129.50 levels broadly.
Trading recommendations:
Remain long for now, stop is at 129.00, target is open.
Good luck!
