Technical outlook and chart setups:
The EUR/JPY pair is expected to continue a rally towards at least 136.00/50 levels from here on, before it produces a meaningful retracement lower. It is recommended to remain flat for now and look to buy lower on a correction. Bulls are poised to take off resistance at 136.50 levels for now. Immediate support on the 4-hour chart view is around the 131.50 levels, followed by 129.00, 127.50 and lower while resistance is seen at 136.00/50, followed by 138.00 and higher respectively.
Trading recommendations:
Remain flat for now.
Good luck!
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for May 01, 2015 . Thanks for your support.
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