Technical outlook and chart setups:
The EUR/JPY is back above 135.00 at the moment and should be taken out towards at least 135.20/30 in this swing rally. Please note that the pair has bounced off the 0.786 fibonacci support level (134.00) when ralling between 133.25 to 137.75 respectively. It is recommended to remain long with risk at 133.00. Immediate support is seen at 133.00/25 (interim) followed by 131.50 and lower while resistance is seen at 135.25/30 (interim) followed by 136.25, 137.75, 139, and higher respectively.
Trading recommendations:
Remain long for now, stop is at 133.00, a target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for July 21, 2015 . Thanks for your support.
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