Technical analysis of EUR/JPY for July 10, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is trading around 135.30 at the moment looking for an opportunity to be pushed higher after intraday dips. The pair met resilience around 133.50 at the past few trading sessions and bounced throughthe level of 135.00 indicating potential reversal from here. Also note that immediate support around 133.00 remains intact, adding further confidence into the bullish setup. It is hence recommended to remain long for now with risk around 133.00. Immediate support is seen at 133.00 followed by 131.00 and lower while resistance is seen at 136.00 followed by 138.00, 139.00, 140.00, and higher respectively.

Trading recommendations:

Remain long for now, stop is at 133.00, a target is open.

Good luck!

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