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Technical analysis of EUR/JPY for November 12, 2015


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Technical outlook and chart setups:

The EUR/JPY pair tested its resistance-turned-support trend line for the third time at the levels of 131.47/50 today. The H4 chart is still indicating an accelerated rally towards 133.80 and 134.30 in coming trade sessions. Please note that bulls are expected to gain control until a low of 131.30 remains intact. It is hence recommended to remain long with risk at 131.00 now. Immediate support is seen at the levels of 131.30 followed by 130.00 and lower, while resistance is seen at 133.20 followed by 134.20/30 and higher.

Trading recommendations:

Remain long with stop at 131.00, a target 134.30

Good luck!



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