Technical outlook and chart setups:
The EUR/JPY pair is seen to be trading around 134.00 at the moment, in a counter-trend move. Initial supply region is seen around 134.60/70 which are the fibonacci 0.382 levels of a drop between the levels of 139.00 and 132.00. It is recommended to exit long positions around 134.70 taken yesterday and turn bearish when a signal appear. Immediate support is seen at 132.00/25 (interim), followed by 130.00 and lower, while resistance is seen at 136.00/137.00 (interim), followed by 139.00 and higher.
Trading recommendations:
Book profits on long positions around 134.70 taken yesterday .
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 September 08, 2015 . Thanks for your support.
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