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Technical analysis of EUR/JPY for December 01, 2015

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Technical outlook and chart setups:

The EUR/JPY pair has been holding and testing lows at 129.65. It has bounced off higher towards 130.15 levels at the moment. The pair seems to be setup for a counter-trend rally soon. It is recommended to remain long with risk around the level of 129.30. Bulls should be poised to push prices higher towards at least 134.00 until 129.60 remains intact. Immediate support is seen at 129.65 followed by 129.30 and lower, while resistance is seen at 131.00 followed by 132.20 and higher .

Trading recommendations:

Remain long with stop is at 129.00, a target is open.

Good luck!

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