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    Technical analysis of EUR/JPY for October 06, 2015

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    Technical outlook and chart setups:

    The EUR/JPY pair bounced off the fibonacci 0.50 levels at 132.25 earlier, which is the interim support now. The pair is trading around the levels of 135.00 levels now, looking for an opportunity to move above 137.00 at the sessions to come. It is hence recommended to remain long with risk at 132.00 at least. Immediate support is seen at 133.00 (interim) followed by 132.00/25 and lower, while resistance is seen at 137.00 (interim) followed by 139.00, 140.00, and higher respectively. Only a breakout below 132.00 should be of any concern for bulls.

    Trading recommendations:

    Remain long with stop at 132.00, a target is open.

    Good luck!

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