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Technical analysis of EUR/JPY for June 16, 2015

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Technical outlook and chart setups:

The EUR/JPY pair is trading around 139.30/40 at the moment after bouncing off from its fibonacci 0.382 support around 138.00 yesterday. The pair could push higher towards the level of 140.00 at least before dropping lower or producing a retracement. Please note that potential still remains at 141.00 before reversing lower. Immediate support is seen at 138.00 (interim) followed by 135.00, 133.00, and lower. Resistance is seen at 140.00 (interim) followed by 141.00, 142.00, and higher respectively.

Trading recommendations:

Remain flat for now. Looking to go long at lower levels.

Good luck!

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