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Technical analysis of EUR/JPY for June 18, 2015

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Technical outlook and chart setups:

The EUR/JPY pair is trading around the level of 139.60 at the moment looking to push further higher. Please note that the pair had found support at fibonacci 0.382 levels of a rally between 133.00 and 141.00 respectively. It is expected to push higher until prices stay above the level of 138.00 at least. It is hence recommended to remain long from yesterday with risk at 137.50. Immediate support is seen at 138.00 (interim) followed by 135.00, 133.00, and lower. Resistance is seen at 141.00 and higher respectively.

Trading recommendations:

Remain long for now, stop is at 137.50, a target is open.

Good luck!

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