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    Technical analysis of EUR/JPY for November 18, 2015

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    Technical outlook and chart setups:

    The EUR/JPY remains more or less unchanged from yesterday trading around 131.25 at the moment. Please note that bulls are expected to regain control from here on, but prices need to stay above at least 130.60. At the moment, prices are bouncing from the Fibonacci 0.786 support of a rally between 130.60 and 132.20/30. It is expected to push the pair higher through the levels of 133.20/30. It is recommended to hold on long positions with risk at 130.30. Immediate support is seen at 130.60, while resistance is seen at 133.20.

    Trading recommendations:

    Remain long with stop at 130.30, targets are at 133.20 and 134.70.

    Good luck!

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