Technical outlook and chart setups:
The EUR/JPY pair looks for an opportunity to form a meaningful low around 131.40/50. In the hourly chart, the set-up -indicates that the pair has broken the immediate resistance line falling back to test the backside of it, which should act as support now. Bulls are expected to extend through 133.20, 133.80, and higher. It is hence recommended to remain long with risk at 131.00. Immediate support is seen at the levels of 131.40, while resistance is seen at 133.20 and higher.
Trading recommendations:
Remain long with the stop at 131.00, targets are seen at 133.80 and 134.30.
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 November 13, 2015 . Thanks for your support.
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