Technical analysis of EUR/JPY for July 24, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is trading around 136.10/15 at the moment taking out initial resistance at 136.50 yesterday. The pair could dip towards the level of 135.30 before advancing further towards 138.00 and higher levels in coming sessions. It is recommended to book some profits on long positions and move risk to 135.00 for now. Immediate support is seen at 134.80/135.00 (interim) followed by 134.00, 133.25, and lower, while resistance is seen at 138.00 followed by 139.00, 140.00, and higher respectively.

Trading recommendations:

Book partial profits on long positions, move stop to 135.00.

Good luck!

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