Technical outlook and chart setups:
The EUR/JPY pair is trading around the level of 134.00 now, having stuck in a range between 133.20 and 134.50 respectively. The pair is also seen to be testing the resistance trend line, just peeping out into the buy zone now. A breakout above 134.50 would be extremely encouraging to bulls and open doors for a rally through the levels of 136.00/137.00 respectively. On the flip side, a drop below 133.20 would confirm a meaningful top is in place around 134.50 and prices should head lower. Immediate support is seen at the levels of 133.20, while resistance is seen at 134.50 respectively.
Trading recommendations:
Remain flat now.
Good luck!
