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Technical analysis of EUR/JPY for June 26, 2015

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Technical outlook and chart setups:

The EUR/JPY pair took out stops placed at 137.80 yesterday. Now it seems to be holding its trend-line support around 138.00. The next fibonacci support is seen at 137.00. but a bounce from current levels is possible. It is recommended to remain flat for now, but a push above 139.00 could take place with risk at 137.40. Immediate support is seen at the level of 137.00 followed by 135.00, 133.00, and lower. Resistance is seen at 139.00 (interim) followed by 140.00, 141.00, and higher respectively.

Trading recommendations:

Remain flat for now, buy on a break above 139.00.

Good luck!

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