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    Technical analysis of EUR/JPY for November 17, 2015


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    Technical outlook and chart setups:

    Today, the EUR/JPY pair has retraced its yesterday's rally to the Fibonacci 0.618 support seen at the 131.20 levels before resuming. The pair trades around the 131.43/44 levels at the moment, looking poised to extend rally at the 133.20 levels in the short term. Please note that the pair go could further through the 134.70/80 levels before finding major resistance. It is hence recommended to remain long for now and also look to add further with risk below yesterday's low. Immediate support is seen at the 130.60 levels, while resistance is seen at the 133.20 levels.

    Trading recommendations:

    Remain long for now, stop is at 130.20, target is 133.20.

    Good luck!


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