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    GBP/JPY Technical Levels and Trading Recommendations for July 2, 2012

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    Technical outlook and chart setups:

    The EUR/JPY pair is trading around 136.15 at the moment, looking for an opportunity to move higher towards 140.00 and potentially above 141.00 in coming sessions. The pair has found support just ahead of 135.00 for now and it could re-test 135.00 before rallying further. In any case, it is recommended to remain long and look to add further positions on dips with risk at 133.00. Immediate support is seen at the level of 133.50 (interim), followed by 133.00, 131.50, and lower, while resistance is seen at 139.00 followed by 140.00, 141.00, and higher respectively.

    Trading recommendations:

    Remain ling for now, stop is at 133.00, a target is open.

    Good luck!

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